Bank failure

Business
5:00 am
Wed August 22, 2012

Amazon trying out lockers for delivering your purchases

If you place an order with Amazon in Seattle, New York, Washington, D.C., or London, the lockers will show up as a shipping option.
Matt Jones Flickr

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.

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Bank Failure Fallout
9:25 am
Thu April 7, 2011

WaMu shareholders may get settlement in class-action suit

Former Washington Mutual Bank officials, David Beck, left, and David Schneider, shown testifying before the Senate subcommittee on Investigations on April 13, 2010. Schneider is named in a lawsuit that could end if a settlement is approved.
Cliff Owen AP Photo

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.

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Bank Failure Fallout
3:14 pm
Thu March 17, 2011

FDIC sues 3 former top executives of failed WaMu

Kerry Killinger, former Washington Mutual Bank president, chief executive office and chairman of the board, testifies on April, 2010 before a Senate subcommittee.
Cliff Owen AP

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.

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Bank Failure Fallout
8:08 am
Tue February 22, 2011

WaMu execs face federal lawsuit

Kerry Killinger, former Washington Mutual Bank president, chief executive office and chairman of the board, testifies on Capitol Hill in Washington.
Cliff Owen AP Photo

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.

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