JPMorgan Chase sues FDIC - KNOE 8 News; KNOE-TV; KNOE.com |

JPMorgan Chase sues FDIC

Posted: Updated:

MONROE, La. (KNOE 8 News/AP) - JPMorgan is suing the Federal Deposit Insurance Corp. to recover more than $1 billion. It says the FDIC failed to make good on the promises it made to induce the bank to buy Washington Mutual when it failed in 2008.

The New York bank says in a federal lawsuit that the FDIC's failure to honor obligations under the Washington Mutual agreement has subjected JP Morgan to massive liability.

The FDIC became the receiver for Washington Mutual, during the largest bank failure in U.S. history. JP Morgan Chase & Co. says the FDIC then declined to acknowledge that claims against JP Morgan for Washington Mutual's conduct should have been claims against the receivership.

The FDIC did not immediately return a call seeking comment from The Associated Press early Wednesday.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Ouachita Parish School Board votes to honor Don Shows

    Ouachita Parish School Board votes to honor Don Shows

    Wednesday, April 23 2014 12:07 AM EDT2014-04-23 04:07:33 GMT
    WEST MONROE, La. (KNOE 8 NEWS)- The Ouachita Parish School Board approved placing the name of West Monroe legendary football coach Don Shows on the field house and a street that runs through the campus.
    WEST MONROE, La. (KNOE 8 NEWS)- The Ouachita Parish School Board approved placing the name of West Monroe legendary football coach Don Shows on the field house and a street that runs through the campus.
  • Woman runs over & kills boyfriend's father

    Woman runs over & kills boyfriend's father

    Monday, April 21 2014 1:39 PM EDT2014-04-21 17:39:59 GMT
    MONROE, La. (KNOE 8 News) - A woman is arrested after she allegedly tried to run down her boyfriend and his father, killing the father.
    MONROE, La. (KNOE 8 News) - A woman is arrested after she allegedly tried to run down her boyfriend and his father, killing the father.
  • ULM named in suit related to a 2013 rape

    ULM named in suit related to a 2013 rape

    Wednesday, April 23 2014 9:30 AM EDT2014-04-23 13:30:33 GMT
     MONROE, La. (KNOE 8 News) - ULM leaders are now set to defend a civil lawsuit, as the university was named along with a convicted rapist.
     MONROE, La. (KNOE 8 News) - ULM leaders are now set to defend a civil lawsuit, as the university was named along with a convicted rapist.
  • New oil and shale play to be developed in North Louisiana

    New oil and shale play to be developed in North Louisiana

    Wednesday, August 31 2011 3:08 PM EDT2011-08-31 19:08:55 GMT
    BATON ROUGE, La. (KNOE 8 News) - Development includes Southern Arkansas as well.
  • Job openings

    Job openings

    Wednesday, April 9 2014 5:44 PM EDT2014-04-09 21:44:16 GMT
    Hoak Media in Monroe is looking for qualified individuals to occupy vacant positions.
    Hoak Media in Monroe is looking for qualified individuals to occupy vacant positions.
     
    KNOE is an Equal Opportunity Employer.
  • Monroe Police Receive a Radio Upgrade

    Monroe Police Receive a Radio Upgrade

    Wednesday, March 6 2013 7:34 PM EST2013-03-07 00:34:02 GMT
    MONROE, La. (KNOE 8 News) - Every time Monroe Police Officers get into their patrol cars and radio for help, they'll know they are being heard. It's because of a new and better radio system.
    MONROE, La. (KNOE 8 News) - Every time Monroe Police Officers get into their patrol cars and radio for help, they'll know they are being heard. It's because of a new and better radio system.
  • Man killed while working under car

    Man killed while working under car

    Monday, April 21 2014 1:43 PM EDT2014-04-21 17:43:30 GMT
    MONROE, La. (KNOE 8 News) - A man is crushed and killed when the jack holding up the car he was working on slipped.
    MONROE, La. (KNOE 8 News) - A man is crushed and killed when the jack holding up the car he was working on slipped.
  • Two teens indicted on murder

    Two teens indicted on murder

    Tuesday, April 22 2014 1:45 PM EDT2014-04-22 17:45:54 GMT
    JONESVILLE, La. (KNOE 8 News) - A Catahoula Parish grand jury has indicted two 17-year–olds for second degree murder. 
    JONESVILLE, La. (KNOE 8 News) - A Catahoula Parish grand jury has indicted two 17-year–olds for second degree murder. 
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.