WaMu wins suit against U.S.
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From Times Wire Services
Washington Mutual Inc. won a $382-million judgment against the U.S. government over promises made during the savings and loan crisis of the 1980s.
The U.S. Court of Federal Claims ordered the government to pay the damages. The breach-of-contract lawsuit stemmed from a Washington Mutual unit’s purchase of Anchor Savings Bank in 1995.
The suit is one of more than 100 centering on promises federal regulators made to encourage banks to take over distressed savings and loans.
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