JPMorgan, FDIC Settle WaMu Case for $645M – NMP Skip to main content

JPMorgan, FDIC Settle WaMu Case for $645M

Aug 22, 2016
JPMorgan Chase & Co. has announced that it is receiving $645 million from a settlement involving with the Federal Deposit Insurance Corp. (FDIC) and Deutsche Bank AG stemming from its 2008 purchase of the banking operations of Washington Mutual Inc. (WaMu

JPMorgan Chase & Co. has announced that it is receiving $645 million from a settlement involving with the Federal Deposit Insurance Corp. (FDIC) and Deutsche Bank AG stemming from its 2008 purchase of the banking operations of Washington Mutual Inc. (WaMu).

According to Reuters report, JPMorgan used a regulatory filing to detail the news that it would collect the settlement funds from the estate of Washington Mutual Bank, which is under FDIC receivership in return from dropping more than $1 billion in claims related to the Washington WaMu purchase. Deutsche Bank, which served as trustee overseeing 99 trusts holding residential mortgage securities backed by toxic WaMu mortgages, will also have a claim against the estate, thus ending its $10 billion lawsuit against JPMorgan and the FDIC.

JPMorgan added that the settlement requires court approval. The FDIC, which seized WaMu in September 2008 and sold its banking operations to JPMorgan for roughly $1.9 billion, did not publicly acknowledge this development.

About the author
Published
Aug 22, 2016
President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Jun 24, 2026
Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Jun 18, 2026
Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Jun 18, 2026
Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Jun 17, 2026
Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power

Jun 16, 2026
Trump Taps Former CFPB Deputy Brian Johnson To Lead Bureau

MBA backs the nomination as lenders await clarity on the future direction of consumer finance regulation under the Trump administration

Jun 12, 2026