J P Morgan Chase (JPM)

Washington Mutual (WaMu) has been sued many times in the past few years over allegations of impropriety. Some examples include: a) pressurizing home appraisers to approve inflated estimates of loans;^[1] b) racial discriminatory practices in lending;^[2] c) improper allocation of late fees;^[3] and d) receiving payments, failing to credit them and then charging late fees.^[4] More recently, WaMu was sued by its employees for 401k mismanagement^[5] and for lying to investors about the company's exposure to the subprime market.^[6]

1. ↑ "WaMu says Cooperating with SEC on Home Appraisals", 21 December 2007, Reuters
2. ↑ "NAACP holds National 'Day of Action' against mortgage discrimination", 14 July 2008, The Louisiana Weekly
3. ↑ "Washington Mutual sued over mortgage payments", 30 January 2002, Seattlepi.com
4. ↑ "Dembowski v. Washington Mutual", Green Welling LLP
5. ↑ "Washington Mutual Faces Class Action Citing ERISA Violations" Hagens Berman LLP
6. ↑ "Wolf Popper Announces Filing of Securities Class Action Lawsuit Against Washington Mutual, Inc.", PR Newswire

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