Banks, Washington Mutual | featured news

A bankruptcy judge rejected Washington Mutual's Chapter 11 plan for a second time, finding the company was too generous with senior creditors but not dismissing the central details of the plan.

The Federal Deposit Insurance Corp. must face a $10 billion lawsuit over the toxic remnants of Washington Mutual Bank, a federal judge ruled.

Washington Mutual agreed to settle a large shareholder class-action lawsuit for $208.5 million that alleged it failed to stop investments when the now-failed bank knew, or should have known, how much trouble it was in.

The FDIC is close to settling a lawsuit that accused former Washington Mutual executives of taking gambles that sparked the thrift's 2008 collapse.

Washington Mutual reached a deal that could end a two-and-a-half-year bankruptcy odyssey that began with the largest bank failure in U.S. history.

Recently released emails show how Goldman Sachs built its mortgage business by closely working with lenders such as Washington Mutual and Long Beach, two firms that a Senate review said "polluted the financial system" with souring loans.

Top officials say Washington Mutual was largely the victim of the housing downturn. But two former WaMu risk officers tell a Senate panel the failed savings and loan took too many chances.

Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.

The head of J.P. Morgan Chase's retail banking operations said Thursday that the firm plans to trim 12000 jobs from the headcount of Washington Mutual employees.