Search for: "Washington Mutual Bank"
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7 Feb, 2008 6:00 am
In Williams v. Washington Mutual Bank, 2008 WL 115097 (E.D.
Cal. Jan. 11, 2008), the court (Judge William B. Schubb) had this to say about the Cel-Tech "safe harbor": California's UCL restricts "any unlawful, unfair, or fraudulent business act
or practice and unfair, deceptive, untrue, or misleading advertising." Cal. Bus. & Prof.Code § 17200. The UCL " 'borrows' violations from other laws by making them independently
actionable as unfair competitive practices." ...
24 Jul 11:35 am
Broker-dealers affiliated with Wells Fargo and Washington Mutual, two large banks with close
ties to the San Francisco Bay Area, have entered into a settlement ... fund and unit investment trust (UIT) transactions with customers. The two bank's sell securities through Wells Fargo Investments and WM Financial Services ... they have been referred to a stockbroker who often has a desk or office
inside the bank branch. According to FINRA, the sanctioned firms failed to properly supervise the sales practices ...
22 Dec, 2008 2:03 pm
... bank account has a negative balance resulting from paying overdrafts and overdraft fees, the bank
cannot apply a future direct deposit of Social Security or V.A. benefits to make up the deficit balance owed to the bank. The court analyzed
Sections 407(a) and 1383(d)(1) of 42 U.S.C., which prohibit creditors from reaching Social ... "other legal process," and decided that these sections do not allow a bank to apply a future direct deposit of Social Security and SSI benefits to cover overdrafts ...
3 Jan, 2007 7:03 am
... , with less regard to what time they come in during that business day. The lawsuit claimed that this is done on purpose: that the bank is
manipulating the order of transactions to trigger more overdraft fees to collect. Customers cannot avoid these fees by avoiding use ... leave. However, as an intrepid civil justice
fellow, even after hating Bank of America, when I was handed my Washington Mutual banking contract I had to check for the infamous and predictable mandatory arbitration clause. And of ...
8 Aug, 2008 12:05 pm
... complaint alleged that defendants improperly froze plaintiffs' checking account funds. Yack v. Washington Mutual Inc., 389 B.R. 91, 93 (N.D. Cal. ... against them and then levied on their Washington Mutual bank account. Id., at 93-94. Washington Mutual complied with the levy, forwarding funds from plaintiffs' account to ... filed their putative class action complaint alleging that defendants levied on
their bank account despite knowing that the funds were exempt from attachment. Id., at 94. Defense ...
7 Apr, 2008 10:38 pm
A spokeswoman for Washington Mutual confirmed tonight what several of my mortgage broker sources
wrote to say this afternoon -- that the Seattle-based bank announced to its employees today that it will get out of the wholesale lending
business and close all its "stand-alone" home loan centers. That means no more WaMu loans available to borrowers through their mortgage brokers, only by working with a loan officer at a
WaMu banking branch, ...
7 Apr, 2008 10:38 pm
A spokeswoman for Washington Mutual confirmed tonight what several of my mortgage broker sources
wrote to say this afternoon -- that the Seattle-based bank announced to its employees today that it will get out of the wholesale lending
business and close all its "stand-alone" home loan centers. That means no more WaMu loans available to borrowers through their mortgage brokers, only by working with a loan officer at a
WaMu banking branch, ...
27 Sep, 2008 12:07 pm
After its bank assets were seized by the FDIC and sold to J.P. Morgan Chase two days ago, Washington
Mutual, Inc., the holding company, filed a Chapter 11 petition in Bankruptcy Court in Delaware. Sept. 27 (Bloomberg) -- Washington Mutual Inc., a holding company for the savings and loan that became the biggest U.S. bank to fail, filed for bankruptcy protection along with its unit WMI Investment Corp. WaMu, the 119-year-old Seattle-based thrift, ...
26 May 4:44 am
... Motions to Dismiss because Class Action Allegations were "Verbose" but "Disordered" and Required "More Definite Statement" Washington
Federal Court Holds Three class action complaints were filed against dozens of defendants alleging securities ... class action were officers and directors, including outside directors,
underwriters and investment banks, and accounting firms. In re Washington Mutual, Inc.
Securities, Derivative & ERISA Litig., ___ F.Supp.2d ___ (W.D. Wash. May 15, 2009) [Slip Opn ...
26 Sep, 2008 11:51 am
... biggest bank failure in U.S. History, Washington Mutual
(note the website has already been changed) was seized by federal regulators last night and immediately ... . See an article here. Seattle-based WaMu, which was founded in 1889, is the
largest bank to fail by far in the country's history. Its $307 billion in assets eclipse the $40 ... because of the company's heavy
mortgage-related losses. As investors grew nervous about the bank's health, its stock price plummeted 95 percent from a 52-week high ...
28 Sep, 2008 9:59 pm
Tough times ahead: Message from WaMu's Web site Washington Mutual's failure and subsequent fire sale
to New York-based JPMorgan Chase will undoubtedly hurt the Seattle legal community, not to mention Seattle as a whole. WaMu was downtown Seattle's ... three who used to work at my firm.
All of this will probably soon change. On the trademark front, the collapse of the bank is also big news. WaMu owns hundreds of federal
trademark applications and registrations - most of ...
11 Dec, 2008 5:16 am
In this confusing mortgage foreclosure case, a default judgment was entered in favor of Washington Mutual Bank against Archer Bank. About six months later, Archer asked the
court to vacate the default. Archer's motion to vacate relied on two sections of the Illinois Civil Procedure Code − § 2-1301(e ... to the trial court to consider Archer's § 2-1301
petition. Read the whole opinion, Washington Mutual Bank v.
Archer Bank, No. 2-07-0074 (9/15/08), by clicking here.
17 May 5:18 am
... a problem. The rates were incomparable. The real work was to overcome investor fear of depositing money in an island bank, where no FDIC
insurance was available. Unstated, but understood was the possibility that the IRS could not track income being generated ... they know or should they have known that they were helping
promote a criminal enterprise? Did Washington Mutual Bank
(WAMU) recognize that millions of dollars in 'suspicious transactions' were moving through their branches in California and ...
3 May 5:38 pm
... appealed the suspension, and ultimately prevailed. This is when things ostensibly turned for the better for the once fledgling offshore bank. Undertaking an aggressive international marketing campaign led by Wise, deposits grew dramatically based on the promise ... their cash, it appears that
the bulk of the funds were being diverted to accounts held by Wise, principally at Washington Mutual
Bank in Las Vegas, Nevada, and used for the personal needs and extravagances of these individuals. Had the ...
9 Oct, 2008 5:05 am
... are taking advantage of the financial crisis by sending so-called phishing emails that pretend to be from banks that have recently been acquired. [...] In the wake of the
shotgun marriages now taking place, ... Business Technology Blog. One such email tells customers of Chase and Washington Mutual banks that because of the merger, customers new and old need to go the Chase Web ... "[m]ost banks rarely contact customers via email. If
they do, they won't send emails asking customers to click on a link and ...
14 Sep 5:57 pm
Guy William Savage, or the Buddy Holly Bandit, was sentenced to 10 years in prison after an Anaheim bank robbery. Savage was shot and wounded
by Anaheim police after waking into a Washington Mutual bank with a fake bomb taped to himself in 2005. He claims that police did not let him get ... released from prison, he will have to go to drug counseling
since he claims that he robbed the banks because of his drug addiction. Savage had such a severe addiction to drugs that he would ...
10 Oct, 2008 12:58 pm
... also have affected financial institutions. [1] The financial industry was hit particularly hard, especially leading subprime lending banking institutions. Washington Mutual, Freddie Mac, Wachovia, Bear Stearns, Countrywide and Merrill Lynch have been or are in the
process of being acquired by big banks, strong enough to make the acquisition. [2] In this article, I will discuss the most recent acquisitions, Washington Mutual and Wachovia Corp., and ...
13 Oct, 2008 8:08 pm
... estate, (iii) operating with a Board of Directors that failed to provide adequate supervision over and direction to Bank management (iv)
operating with inadequate management not sufficiently experienced in or Knowledgeable of good lending practices, (v) ... operations. The Integrity lawsuit is not the only complaint to
be filed in connection with the current wave of bank failures. In addition to the Washington
Mutual and IndyMac lawsuits cited above, investors also filed a securities class action ...
4 Apr 10:10 am
... Fargo HSBC, Goldman Sachs, Morgan Stanley. . . . [B]y the way, the FDIC has been seizing commercial banks, including Washington
Mutual when it has determined it to be necessary. But, for obvious reasons the FDIC has decided that trying to gobble up ... WaMu
bank assets: Washington Mutual's holding company is suing
federal regulators for billions of dollars, saying the firesale of the bank's assets to JPMorgan Chase violated its rights. The lawsuit was
filed Friday [March 21] in federal court against ...
2 Apr, 2007 8:19 pm
... to the bank in this regard. Concordia's policy reflects the system in place at the company's bank, First Mutual Bank. First Mutual customers must apply to use its remote deposit program. The application evaluation process helps First ... that supply the guarantees to make certain
that adequate check handling and destruction policies are in place and followed. Washington's Department of Financial Institutions is beefing
up its examination procedures to address these risks. The DFI's main concern is ...
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