According to The Wall Street Journal, five years after JPMorgan Chase (JPM) acquired Washington Mutual, the mega lender is still arguing with the Federal Deposit Insurance Corp. over the nuts and bolts of the 39-page purchase agreement.  

The question of who bears responsibility for Washington Mutual's legal liabilities is taking on increasing urgency as J.P. Morgan negotiates a pact with the Justice Department that would end probes of soured mortgage bonds issued by J.P. Morgan and Washington Mutual during the housing boom.

The Justice Department is trying to insert language into the settlement stipulating that none of the costs the bank pays regarding Washington Mutual will be passed to the FDIC, said people close to the talks. J.P. Morgan wants the ability to recover costs associated with Washington Mutual from the FDIC receivership that liquidated the thrift in 2008.

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