The former president of a small business bank in New York closed by regulators on Friday has been arrested and charged with engaging in a variety of schemes to defraud the bank and its regulators, including the U.S. government’s Troubled Asset Relief Program.
Old Southern Bank was closed late Friday by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corp. as receiver.
WILMINGTON, Del. — Washington Mutual Inc. says it has resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company’s Chapter 11 bankruptcy.
The government agency seized Washington Mutual’s flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. But [...]
