FDIC gets second dibs on WaMus

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The Federal Deposit Insurance Corporation is slated to become the new landlord of some of the 148 Washington Mutual branches in New York that were recently handed over to JPMorgan Chase. According to a clause in Chase’s contract to purchase WaMu’s assets, the buyer gets 90 days to decide which storefronts it wants, after which the FDIC can take the remainder, and either reject the leases or sell them off to another tenant. As a group of Chase analysts works to determine which locations it wants to keep, FDIC’s potential plans for the properties remain unclear.