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JPMorgan sues FDIC for more than $1bn

"JPMorgan Chase sued the Federal Deposit Insurance Corporation on Tuesday, striking back against the government weeks after agreeing to pay $13bn to resolve claims that it mis-sold mortgage securities.

"The largest bank in the US said it was trying “to recover substantially in excess of a billion dollars” from the FDIC, which managed the receivership of Washington Mutual after the bank failed during the crisis and then sold most of its assets to JPMorgan.