JPMorgan Chase & Co. has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala. The Securities and ...

PHILADELPHIA (Reuters) - Philadelphia will take out a $275 million short-term loan from JPMorgan Chase to pay vendors that have gone without compensation since July because of one of the worst budget crises in nearly 50 years, Democratic Mayor Michael Nutter said on Tuesday. The privately placed loan has an interest rate of 3 percent until December 1 when the rate ...

Yields on tax-exempt bonds maturing in less than 10 years fell to a six-year low during the week of Aug. 16. With 30-year municipal bonds offering yields near 5% -- an astonishing four percentage points higher than two-year muni bonds -- yield-hungry municipal bond investors are shifting money into riskier, longer-term municipal bonds, according to Municipal Market Advisors, which publishes a newsletter ...