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Washington Mutual And Fraud

 

What is all this talk of the Washington mutual and fraud?

Well first a background of Washington mutua fundsl. Washington mutual funds began its public life in 1983 when a securities brokerage firm named Murphey Favre was bought was bought out. Since then Washington Mutual, Inc has grown to become one of the largest mutual fund and financial services institutions in America.

In 1990 when Kerry Killinger became the companies' CEO it was reported Washington Mutual had over three hundred billion in corporate assets. By offering such services as commercial banking, credit cards, home loans, mutual funds, and financial services Washington Mutual has continued to grow.

Ever since early 2000 there have been claims against the company for unethical business practices, horrible customer service, and outright scandalous behavior.

Since the 1990s the company has had at least 8 major class action suits filed against it, although some people report the number is much higher.

While researching the Washington mutual and fraud we came across hundreds of consumer complaints. They range from customers reporting blatant negligence on the part of the companies' employees to outright ignorance on the part of their customer service department. Many of the specific complaints were regarding home loans, mutual funds, and free bank which Washington mutual and fraud offers as a promotional offer.

Perhaps the most troubling complaints against the company are the irregularities present in their accounting statements.

They also appear to hold no regard for the Real Estate Settlement Procedures Act (RESPA). This act requires that a company provide full disclosure to customers, is frequently dismissed or simply ignored by Washington Mutual.

As a result of their blatant disregard for customer satisfaction and their unwillingness to adhere to US business law we give Washington Mutual two thumbs down and if we had more thumbs they would be down as well.

 

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