Sens. Seek Tax Conditions On $13B JPMorgan Mortgage Deal

Law360, New York (October 30, 2013, 5:32 PM EDT) -- A group of Senate Democrats on Tuesday pushed U.S. Attorney General Eric Holder to demand that a potential $13 billion settlement with JPMorgan Chase & Co. include restrictions that would prevent the bank from claiming a massive tax deduction on the deal.

In a letter to Holder, the senators said they were “troubled” by media reports indicating that under the terms of the proposed deal, JPMorgan would be able to write off as much as $4 billion of the settlement amount. Allowing JPMorgan to claim such...
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