JPMorgan settles with FDIC, Deutsche Bank in WaMu case

August 19, 2016 9:42 PM

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JPMorgan settles with FDIC, Deutsche Bank in WaMu case

JPMorgan Chase & Co (JPM.N) on Friday said it has settled litigation with the FDIC and Deutsche Bank AG (DBKGn.DE) stemming from its purchase of Washington Mutual Inc's banking operations during the financial crisis.

In a regulatory filing, JPMorgan said it will be paid $645 million in cash from the estate of Washington Mutual Bank, for which the FDIC acts as receiver, and release its claims against the estate.

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