It's Official - JP Morgan Chase and Washington Mutual
In a press release titled "JPMORGAN CHASE ACQUIRES THE DEPOSITS, ASSETS AND CERTAIN LIABILITIES OF WASHINGTON MUTUAL’S BANKING OPERATIONS", JP Morgan Chase announced tonight that "it has acquired all deposits, assets and certain liabilities of Washington Mutual’s banking operations from the Federal Deposit Insurance Corporation (FDIC), effective immediately."
Included in the transaction is the card services segment of Washington Mutual - according to the presentation prepared by JP Morgan Chase, it will become the #1 US credit card issuer with $181 billion in receivables.
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