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