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JPMorgan Removed from Louisiana Muni Deal After Gun Scrutiny

  • State bond panel votes to replace bank on $700 million issue
  • Commission names Wells Fargo as senior manager on bond offer
   

Photographer: Luke Sharrett/Bloomberg

Updated on

JPMorgan Chase & Co. was removed on Thursday from a $700 million Louisiana municipal-bond deal after the bank’s stance on guns drew criticism from state Republican officials. 

After a fiery meeting, the state bond commission voted to have Wells Fargo & Co. replace JPMorgan, the largest U.S. bank, as senior manager on the deal.