In September 2008 the savings bank Washington Mutual was seized by federal regulators after a wave of customer withdrawals, becoming the largest bank failure in United States history by assets. Most of its banking operations were immediately sold to JPMorgan Chase, while the failure fed into the broader panic of the 2008 financial crisis.
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Washington Mutual's seizure by federal regulators in September 2008 remains the largest bank failure in United States history, a defining event of the 2008 financial crisis.
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