Tagged: Bank failure

If you’ve bought something recently on Amazon.com, you may have noticed it’s testing a new way to deliver packages. The Internet retailer has quietly installed non-descript lockers where you can pick up an order, rather than having it sent to a personal address.

The pilot program is available in four cities including Seattle.

A tentative settlement has been reached in a class-action lawsuit against Washington Mutual Inc, the largest bank failure in the nation's history. If a U.S. district court judge approves it, shareholders would get some money for stocks that are basically worthless now.

Federal bank regulators have sued three former top executives of Washington Mutual (WaMu), the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending and seeking $900 million in damages.

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.