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Former WaMu Execs To Settle FDIC Suit

Dec 13, 2011
Originally published on December 13, 2011 11:29 am
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RENEE MONTAGNE, HOST:

NPR's business news begins with bank executives settling a civil suit.

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MONTAGNE: When Washington Mutual filed for bankruptcy back in 2008, it became the biggest bank failure in U.S. history. Now, according The Wall Street Journal, three former top executives from Washington Mutual have settled the lawsuit brought by federal regulators who accuse them of reckless disregard for the long-term soundness of the bank. The executives denied wrongdoing, and the $75 million settlement is far less than regulators wanted. Still, it brings to a close the most high-profile attempt to bring cases against bank executives for alleged malfeasance. Transcript provided by NPR, Copyright NPR.