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| Former WaMu Execs Settle FDIC Lawsuit
3 WaMu execs agree to settle for up to $64 million
Dec. 14, 2011
Three of the top executives at the helm Washington Mutual Bank around the time it became the biggest bank failure in U.S. history have agreed to a settlement with the Federal Deposit Insurance Corp.
The FDIC previously filed a lawsuit in federal court against Kerry Killinger, Stephen Rotella and David Schneider.
Regulators claimed that the bank failed in 2008 because the executives focused only on toxic mortgages that could be sold for the greatest profit.
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