WaMu Acquired By JPMorgan Chase
Last night, the Office of Thrift Supervision shut down Washington Mutual and the FDIC was named the receiver. Immediately afterwards, the FDIC facilitated a sale of WaMu to JPMorgan Chase. All depositors are protected and no money comes out of the coffers of the FDIC’s insurance fund - it’s a win, win for everyone. As of right now, JPMorgan Chase has said they’re going to keep everything the same during the transition.