The Federal Deposit Insurance Corporation is planning to file a civil suit against former Washington Mutual (WaMu) executives to collect over $1 billion in damages, The Wall Street Journal reports. The regulator has sent letters to the executives and may take a decision within the next 30 days.

Some of WaMu’s executives that received the legal notices include CEO, Kerry Killinger, president and COO, Steve Rotella, and former president of the failed bank’s home loan division, David Schneider, adds Business Journal. The potential action against executives of WaMu is related to alleged wrongdoing during the financial crisis.

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