Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
Russell Investments, the indexing and fund-management unit of Northwestern Mutual Life Insurance Co., is drawing takeover interest from suitors including Blackstone Group LP and Bain Capital LLC as Goldman Sachs Group Inc. solicits bids for the firm, people with knowledge of the matter said.
Former Washington Mutual Inc. Chief Executive Officer Kerry Killinger and two other bank officials are in settlement talks with the Office of the Comptroller of the Currency, the last chapter in the government’s probe of the largest U.S. bank failure.
JPMorgan Chase & Co. sued the Federal Deposit Insurance Corp. claiming the agency is responsible for more than $1 billion in liabilities faced by the company as a result of its 2008 takeover of Washington Mutual Inc.’s bank.
Washington Mutual Inc. said its revised reorganization plan calls for $7 billion in creditor distributions and incorporates an amended settlement with the Federal Deposit Insurance Corp. and JPMorgan Chase & Co.
OneWest Bank FSB, the lender backed by John Paulson and George Soros, is working with Goldman Sachs Group Inc. to find a buyer as it also prepares for an initial public offering, people with knowledge of the matter said.