JPMorgan to get $645 mn in deal to end WaMu row
The US-based JPMorgan Chase on Friday said it will receive $645 million in a litigation settlement with Federal Deposit Insurance Corp and Germany-based Deutsche Bank. This will resolve the dispute arising from its purchase of Washington Mutual's operations during the financial crisis. It resolves claims among the three parties on over $6 billion in securities backed by 'flawed' WaMu's mortgages.