It was a shock to some when JPMorgan acquired WaMu in September last year.
The Office of Thrift Supervision seized the bank despite its appearing to meet regulatory standards for operating banks. WaMu shareholders were furious that that their bank was “gifted” to JP Morgan.
Eager to followup, the Puget Sound Business Journal filed a FOIA with the OTS
The request was denied, but PSBJ did manage to get document from the FDIC
The Puget Sound has pictures of some of the redacted emails they received. One of them is pictured here.
The FDIC said the information withheld in the emails is exempt from the FOIA mainly because of “exemption 8,” which allows the government to redact information related to the regulation or supervision of financial institutions.
The PS retorts: WaMu ceased to be a regulated institution when government officials shut it down more than a year ago.
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