JPMorgan Chase sues US for more than $1 billionhttps://indianexpress.com/article/news-archive/web/jpmorgan-chase-sues-us-for-more-than-1-billion/

JPMorgan Chase sues US for more than $1 billion

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

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.