JP Morgan Chase is nearing a deal with the Federal Deposit Insurance Corp. (FDIC) that could end up providing the firm with $1.4bn in tax refunds. A media report, which cited unnamed sources, also indicated that as part of a larger settle with Washington Mutual’s bondholder’s, JP Morgan could claim $1.4bn of funds in the FDIC receivership to shield itself from exposure to mortgages that WaMu serviced. WaMu was seized by the FDIC in March in 2008 and later sold to JP Morgan for $1.9bn, putting it among the largest US bank failures in history.

Most Popular Articles

Here's where the real housing affordability crisis exists

Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time?

Feb 17, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please