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No impact from Alabama county bankruptcy: JPMorgan
NEW YORK |
NEW YORK (Reuters) - JPMorgan Chase will not suffer a material impact from the decision by Alabama's Jefferson County to file for bankruptcy, a bank spokesman said on Wednesday.
The bank is one of the county's biggest creditors. Legislators in Jefferson County voted 4 to 1 to file for bankruptcy court protection in what would be the biggest municipal bankruptcy in U.S. history.
"The filing will have no material impact on us, a bank spokesman said by email.
(Reporting by Joan Gralla; Editing by Richard Chang)
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Comments (1)
JimsZ wrote:
JPMorgan probably had CD’s with the FED who is taking the loss here (that or the other $600 million is still in JPM’s accounts)
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