SEATTLE--(BUSINESS WIRE)--Nov. 13, 2006--Washington Mutual, Inc.
(NYSE: WM) and Comerica, Inc (NYSE: CMA) announced today that they
have entered into a settlement agreement to resolve a lawsuit pending
against Commercial Capital Bancorp, Inc. (CCBI). WaMu acquired CCBI on
Oct. 1, 2006.
The $47 million settlement to Comerica was made without any
admission of fault or wrongdoing and was reached as a business matter.
None of the claims that were the subject of the settlement were
alleged against WaMu or involved any WaMu employees or practices. The
settlement has no material financial or operational impact to WaMu.
About Washington Mutual
Washington Mutual, through its subsidiaries, is one of the
nation's leading consumer and small business banks. At September 30,
2006, Washington Mutual and its subsidiaries had assets of $348.88
billion. The company has a history dating back to 1889 and its
subsidiary banks currently operate more than 2,600 consumer and small
business banking stores throughout the nation. Washington Mutual's
press releases are available at http://newsroom.wamu.com.
CONTACT: Washington Mutual
Alan Gulick, 206-500-2760
Investor Relations Contact
Alan Magleby, 212-326-6019
SOURCE: Washington Mutual, Inc.