WaMu Gets $4.8B From Treasury In Tax Settlement

Law360, New York (October 13, 2010, 12:37 PM EDT) -- Washington Mutual Inc. confirmed Wednesday that the U.S. Treasury Department has put $4.77 billion into an escrow account as part of a settlement the failed bank reached with the Internal Revenue Service over billions in expected tax refunds.

In Wednesday's filing with the U.S. Securities and Exchange Commission, WaMu said the Treasury Department had put the funds into a segregated escrow account established by the company, JP Morgan Chase Bank NA and the Federal Deposit Insurance Corp. in its capacity as receiver for WaMu.

The U.S....
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