Subscribe to the Finance Headline RSS feed | Subscribe to the Finance Headline feed via EmailOffice of Thrift Supervision Criticized for Failing to Remedy Identified Problems at Washington Mutual
April 20, 2010 in Banking Report · Leave a Comment
The Office of Thrift Supervision repeatedly identified poor underwriting practices and other problems with risky loan products offered by Washington Mutual Bank over a five-year period before the bank’s demise, but failed to take corrective action and even engaged in a “turf battle” when the Federal Deposit Insurance Corporation attempted to assert its backup enforcement…
