Alabama

An Alabama federal judge entered judgments approving settlements in the Securities and Exchange Commission’s cases against former JPMorgan bankers Douglas MacFaddin and Charles LeCroy, who were accused of wrongdoing in the Jefferson County, Ala. sewer financings.

Mobile, Ala., next week will file a protest and an appeal of the Internal Revenue Service’s proposed adverse determination that some general obligation refunding and improvement warrants it issued in 2006 are taxable.

Two former JPMorgan bankers have agreed not to violate securities laws and to repay money they made while working on transactions involving Jefferson County, Ala., Securities and Exchange Commission documents said Tuesday.

Jefferson County, Ala.,’s 2013 sewer system debt remains at junk levels even though the county’s post-bankruptcy plan is working as intended so far, Fitch said while affirming its double-B ratings.

The Internal Revenue Service’s tax-exempt bond office has told Mobile, Ala., that the general obligation refunding and improvement warrants it issued in 2006 are probably taxable.