JPMorgan Pays $75 Million to Settle Jefferson County Interest Swap Probe

Reported by Bloomberg on Wednesday, 4 November 2009 (on November 4, 2009)

Nov. 4 (Bloomberg) -- JPMorgan Chase & Co. agreed to pay
$75 million and forfeit another $647 million in interest-rate
swap termination fees to settle a U.S. Securities and Exchange
Commission probe into the sale of derivatives that helped push
Alabama’s most populous county to the brink of bankruptcy.

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