3/14/2010- Washington Mutual, JP Morgan Chase (NYSE:JPM) and federal regulators settled a dispute over billions of dollars in assets that once belonged to WaMu.
JP Morgan, who originally paid $1.9 billion for WaMu's branches and deposits, has now agreed to pay $4 billion in disputed deposits to WaMu's bankrupt parent company, in exchange for more than $6 billion in other assets.
The parent company will also get $2 billion in contested federal tax refunds and an additional $1.5 billion in refunds with go to the Federal Deposit Insurance Corp.
The parent company intends to use the $6 billion to repay creditors.