JPMorgan’s Alabama Debt Debacle Set to Cost Bank $1.6 Billion

JPMorgan’s Alabama Debt Debacle Set to Cost Bank $1.6 Billion

Victor J. Blue/Bloomberg

Pedestrians walk by the offices of JPMorgan Chase & Co. in New York. Under the agreement, JPMorgan would forgive about 70 percent of the $1.2 billion in sewer debt Jefferson County holds, according to a statement from the county.