0 minute readJPMorgan Chase and Co has told federal regulators it may seek to recoup the money it used to buy the banking assets of Washington Mutual Inc, the Wall Street Journal reported on Monday, citing people familiar with the situation. JPMorgan has sent letters to the Federal Deposit Insurance Corp (FDIC), warning it could seek more than $6 billion in legal protection from the regulator’s receivership, the Journal reported. The FDIC seized Washington Mutual in September 2008 and sold its assets to JPMorgan for about $1.9 billion.
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
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Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
