Several former Washington Mutual executives have been notified by the federal government that they'll be sued over their role in the collapse of the Seattle-based bank.
The Puget Sound Business Journal reports that sources familiar with the suit say the Federal Deposit Insurance Corporation intends to seek more than a billion dollars in damages.
To be named in the suit are:
- Kerry Killinger, former WaMu CEO
- Steve Rotella, former president and chief operating officer
- David Schneider, former head of the bank’s home load division
All three executives have denied wrongdoing.