Washington Mutual Bank closed by the Office of Thrift Supervision and acquired by JPMorgan Chase. WaMu’s level of safety and soundness had been rumored to be in trouble by many banking experts. The FDIC said all depositors are fully protected, and there will be no cost to the FDIC’s Deposit Insurance Fund. JPMorgan Chase took all the assets and paid $1.9 billion to take over the bank’s assets. Negotiators were expected to return to the table Friday morning to continue negotiations.”]
Source: https://www.cuinfosecurity.com/washington-mutual-now-largest-bank-failure-in-history-a-979