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This is an archive article published on December 19, 2013

JPMorgan Chase sues US for more than $1 billion

JPMorgan is suing the US Federal Deposit Insurance Corp to recover more than $1 billion.

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JPMorgan is suing the US Federal Deposit Insurance Corp to recover more than $1 billion tied to its purchase of Washington Mutual when that bank failed in 2008.

In a court complaint,the biggest US bank said that the FDIC failed to honour obligations under the agreement,and that has subjected JP Morgan to massive liability.

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