Financial Regulatory Forum

Ex-Washington Mutual CEO cries foul; risky loans slammed

By Reuters Staff
April 14, 2010

   By Dan Margolies
   WASHINGTON, April 13 (Reuters) – The former chief executive of Washington Mutual said banking regulators seized it unfairly in 2008 as the Seattle-based savings and loan fell outside an inner circle of banks that were “too clubby to fail.” (more…)

US Senate panel: high-risk loans brought down WaMu

April 13, 2010

   By Dan Margolies
   WASHINGTON, April 12 (Reuters) -  Despite fraud rates of over 58 percent and 83 percent at two of Washington Mutual Bank’s top-producing loan production offices in 2005, the bank did nothing to address the problem, according to findings released Monday by a congressional panel. (more…)