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FDIC Sues 4 Former IndyMac Executives

WASHINGTON, D.C. - (AP) Bank regulators have accused four former executives of failed IndyMac Bank of negligence in making loans to homebuilders and are seeking a total $300 million in damages. The Federal Deposit Insurance Corp., which took over California-based IndyMac when it collapsed two years ago...

WaMu Bank Bondholders Settle For $335 Million

SEATTLE - (AP) A group of Washington Mutual creditors have signed on to a settlement that pushes the bank's reorganization plan a step closer to approval. Washington Mutual Bank bondholders agreed to a $335 million settlement, according to an amended reorganization plan filed Wednesday with U.S....

Lawsuit Wave Could Hurt Housing Market: FDIC Chief

ARLINGTON, Va. - (AP) A wave of lawsuits from troubled borrowers who lost their homes to foreclosure could hurt the already-ailing housing market, a top banking regulator said Monday. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said litigation by the affected homeowners "could...

FDIC Sues 3 Former Top Executives Of Failed WaMu

WASHINGTON, D.C. - (AP) Federal bank regulators have sued three former top executives of Washington Mutual, the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending. The Federal Deposit Insurance Corp. filed the civil lawsuit Wednesday against former WaMu CEO...

FDIC: 'Close' To Settlement In Lawsuit Against WaMu Execs

WASHINGTON, D.C. - (AP) Federal bank regulators say they are close to settling their civil lawsuit against three former top executives of Washington Mutual accused of negligence in allowing risky mortgage lending at the biggest U.S. bank ever to fail. The Federal Deposit Insurance Corp. says it has exchanged...

American Express Bank Pays $112 Million To Settle Deceptive Practices Claims

WASHINGTON, D.C. - (Mealey's) The Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau (CFPB) announced Oct. 1 that they have reached a settlement with American Express Centurion Bank, Salt Lake City, Utah, for deceptive debt collection and credit card marketing practices...

Jury Enters $168.8 Million Verdict Against Former IndyMac Executives

LOS ANGELES - (Mealey's) A jury in a California federal court on Dec. 7 entered a $168.8 million verdict against three former officers of the failed IndyMac Bank F.S.B., finding that the individuals had been negligent and breached their fiduciary duties with respect to 23 loans at issue in the suit...

Former IndyMac CEO Agrees To $12 Million Settlement With FDIC

LOS ANGELES - (Mealey's) Former IndyMac FSB CEO Michael Perry on Dec. 14 agreed to a $12 million settlement to resolve the Federal Deposit Insurance Corp.'s $600 million suit over his alleged role in the bank's failure, according to a stipulation of dismissal with prejudice filed in a California...