SAN FRANCISCO - The consolidation and reshaping of the U.S. financial industry landscape continued late last week, as JPMorgan Chase & Co. snapped up the assets of defunct Washington Mutual Inc.

WaMu - the nation's biggest savings and loan until last week when it was seized by federal regulators in the largest bank failure in U.S. history - had a small presence in the municipal bond market. Over the past decade, it served as senior manager on 10 issues, was a letter of credit provider on 16, and trustee on two. The deals were primarily small housing issues sold for housing developers.

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