What bank took over Washington Mutual?
JPMorgan Chase
Subsequent to the closure, JPMorgan Chase acquired the assets and most of the liabilities, including covered bonds and other secured debt, of Washington Mutual Bank from the FDIC as Receiver for Washington Mutual Bank. Any claims by equity, subordinated and senior unsecured debt holders were not acquired.
Who took over Washington Mutual Home Loans?
“Washington Mutual Acquired by JPMorgan Chase.” Accessed Oct. 12, 2021. University of Washington. “Annual Report / Washington Mutual 2007,” Page 9.
What happened to Washington Mutual Bank accounts?
If you had an account with Washington Mutual Bank, you now have an account with JPMorgan Chase Bank.
Is Washington Mutual now chase?
Washington Mutual Inc. Washington Mutual, Inc—abbreviated to WaMu—was a savings bank holding company and the former owner of WaMu Bank, which was the United States’ largest savings and loan association until its collapse in 2008. All WaMu branches were rebranded as Chase branches by the end of 2009.
When did the Washington Mutual Bank run out of money?
From that date through September 24, 2008, WaMu experienced a bank run whereby customers withdrew $16.7 billion in deposits over those nine days, and in excess of $22 billion in cash outflow since July 2008, both conditions which ultimately led the Office of Thrift Supervision to close the bank.
How big was Washington Mutual before it was receivership?
Regarding total assets under management, WaMu’s closure and receivership is the largest bank failure in American financial history. Before the receivership action, it was the sixth-largest bank in the United States. According to WaMu Inc.’s 2007 SEC filing, the holding company held assets valued at $327.9 billion.
When did Washington Mutual move to Downtown Seattle?
In March 2006, WaMu began the move into its new headquarters, WaMu Center, located in downtown Seattle. The company’s previous headquarters, WaMu Tower, stands about a block away from the new building on Second Avenue. In August 2006, WaMu began using the official abbreviation of WaMu in all but legal situations.
When did Washington Mutual acquire Columbia Savings Bank?
In May 1987, WaMu announced the pending acquisition of the Wenatchee -based Columbia Federal Savings Bank for $40 million and also the Seattle-based Shoreline Savings Bank for $7.5 million. At the time of the announcement in May 1987, WaMu had 50 branch offices, all within Washington state. Both acquisitions were completed in April 1988.