FDIC Scores $64M Settlement From Ex-WaMu Execs

Law360, New York (December 13, 2011, 11:53 AM EST) -- Federal regulators have agreed to a $64 million settlement with three former executives of failed bank Washington Mutual Inc. — far less than 10 percent of the recovery regulators had sought.

The deal will see the three former executives — WaMu ex-CEO Kerry K. Killinger, ex-chief operating officer Stephen J. Rotella and ex-home loans president David C. Schneider — pay a total of $400,000 out of their own pockets to the Federal Deposit Insurance Corp. and forego $24 million in retirement and bonus claims, the Wall...
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