JPMorgan Chase’s legal battle with the Federal Deposit Insurance Corp. and Deutsche Bank AG over its acquisition of Washington Mutual’s banking operations is finally over, closing the door on issues dating back to the financial crisis.

According to an 8-K filing from JPMorgan Chase, “As previously disclosed, JPMorgan Chase Bank signed a term sheet with Deutsche Bank and the FDIC to resolve pending litigation brought by DBNTC against the FDIC, in its capacity as receiver for Washington Mutual Bank and in its corporate capacity, and JPMorgan Chase Bank, as defendants, relating to alleged breaches of certain representations and warranties given by certain WMB affiliates in connection with mortgage securitization agreements.”

The filing also stated it resolved “JPMorgan Chase’s outstanding indemnification claims pursuant to the terms of the Purchase & Assumption Agreement between JPMorgan Chase Bank and the FDIC relating to JPMorgan Chase’s purchase of substantially all of the assets and certain liabilities of Washington Mutual Bank.”

In early August, JPMorgan’s quarterly regulatory filing revealed that the settlement was nearing an end.

JPMorgan, at the time, said that proceedings related to Washington Mutual’s failure are pending before the United States District Court for the District of Columbia.

Now only a couple weeks later, the bank released the full details of the settlement in its 8-K filing, explaining which WMB liabilities JPMorgan Chase did and did not assume in connection with its acquisition of assets, deposits and certain liabilities of WMB from the FDIC-Receiver in September 2008.

“The agreements also resolve all disputes among Deutsche Bank, the FDIC and JPMorgan Chase concerning the mortgage repurchase and other liabilities asserted by DBNTC in its capacity as trustee of 99 residential mortgage-backed securitization trusts issued or sponsored by WMB or its affiliates in an action filed in the U.S. District Court for the District of Columbia and currently on appeal to the U.S. Court of Appeals for the D.C. Circuit,” the filing stated.  

The filing also stated that under the terms of the settlement, JPMorgan Chase Bank will release all of its indemnity and other claims against the WMB receivership estate, including substantially more than $1 billion in claims relating to the WMB Transaction, and be paid $645 million in cash from the WMB receivership estate.

“The FDIC-Receiver will also provide DBNTC an allowed claim in the receivership estate. The settlement, which remains subject to certain judicial approval procedures, will result in the dismissal of the four WMB-related actions pending in the U.S. District Court for the District of Columbia to which the firm and the FDIC are parties and in pre-tax income to the firm in the amount of the cash payment in the future period in which it is recognized,” the filing concluded.