Bank failure
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A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. Failing banks share co
Depositors "run" on a failing New York City bank in an effort to recover their money, July 1914
Washington Mutual
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Washington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank, which was the largest savings and loan association in the Un
Bank failure
…Under ideal circumstances, a bank failure can occur without customers losing access to their funds at any point. For example, in the 2008 failure of Washington Mutual the FDIC was able to broker a deal in which JP Morgan Chase bought the assets of Washington Mutual for $1.9 billion. Existing customers were immediately…
A former WaMu branch in the Chinatown section of New York City (2004)
The WaMu Tower at 1201 Third Avenue in Seattle, Washington
A WaMu office in Naperville, Illinois
Former Dime Savings Bank branch in Brooklyn, New York