I was a Washington Mutual customer.
Then the news hit my feed reader. WAMU is gone.
I guess we could start the "Woo HOO!" jokes if you like...
Here's the view from the FDIC Failed Bank Page
It looks like Chase will be my new bank.
From the FDIC Press Release:
JPMorgan Chase acquired the banking operations of Washington Mutual Bank in a transaction facilitated by the Federal Deposit Insurance Corporation. All depositors are fully protected and there will be no cost to the Deposit Insurance Fund.
'For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks," said FDIC Chairman Sheila C. Bair. 'For bank customers, it will be a seamless transition. There will be no interruption in services and bank customers should expect business as usual come Friday morning."
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hmm this could make tomorrow interesting... I know really is more about a name change then any thing else.. but I have a few short sales stuck with WAMU
Wow, how the might continue to fall. I have/had both personal and business accounts at WAMU and enjoyed their very personal service. IMHO, they have much better customer service than BofA. Hey, you don't think that WAMU will forget about my HELOC, do you?
It's hard to keep up with the number of failing companies right now. Everyday it is someone new.
Do you think this means they will forget about my credit card balance?
Who is next? Lately it seems like every time we turn around another financial institution is gone?
So what is going to happen to all the WAMU short sales now? Take even longer?
Another one bites the dust. All for want of an extra 2% margin. Hummm.
kk
Mike - and the list will go on and on and on and on - at least there will be no more surprises as we are all used to by now.
So do you think the lines at the teller will get any shorter or longer? I guess we should be thankful there are any lines at all!
One of my loan officers told me this was happening several weeks ago -- he was right!
And here I had thought we were done with Chase accounts... Not shocked that they dived, though. Been waiting for it since the had been offering all of the high rates to get some depositors.