Initially a California-based funds and advance, established in 1979, Long Beach Bank turned into a governmentally sanctioned thrift foundation in 1990. In October 1994, it turned out to be Long Beach Mortgage Co.

Guardian/auxiliary organizations:
Long Beach Mortgage Co. turned out to be a piece of Washington Mutual in 1999.

Chief: CEO (Washington Mutual):
Kerry K. Killinger

Latest pay:
2007 — $1,000,000; $5,250,770 complete pay

Area:
Anaheim, California

Year established:
1979

Patrons: Long Beach issued its own securities guaranteed by Washington Mutual in organization with Wall Street banks like Lehman Brothers and Goldman Sachs. It likewise sold credits to firms like Goldman Sachs and Bear Stearns.

Campaigning review

Campaigning: 1999-2008: Washington Mutual reported $5,873,000 in campaigning consumptions.

Absolute Contributions: At minimum $3,678,928

Top Recipients:

1. Vote based Congressional Campaign Committee $172,900

2. Vote based Governors Association $145,000

3. National Republican Senatorial Committee $105,000

4. Vote based Senatorial Campaign Committee $93,700

5. National Republican Congressional Committee $87,650

Examinations
Settlements:

• In 2001, a Mississippi jury honored $71 million in harms — later diminished to $54 million — when Washington Mutual Finance Group was found to have renegotiated advances for clients over and again keeping in mind the end goal to gather exorbitant expenses.

• In 2004, Long Beach settled with the California Department of Corporations over assertions that the organization was charging enthusiasm on specific home loans for an additional day before the credits shut; the firm consented to pay $800,000.