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FDIC sues former execs, wives in WaMu failure

The Federal Deposit Insurance Corp. sued three former executives of the failed Washington Mutual Bank, along with two of their wives, in a lawsuit filed on Wednesday.

The FDIC is seeking $900 million in damages, charging gross negligence and other failures by the former executives in the run up to WaMu’s collapse in September 2008, the largest U.S. banking failure. Get the full story »

Examiner wants subpoena power in WaMu case

The independent examiner appointed to review claims and assets in Washington Mutual’s bankruptcy case is seeking subpoena power.

The examiner made the request Friday in filing his proposed work plan in Delaware bankruptcy court. A hearing on his plan will be held Tuesday. Get the full story »