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JPMorgan Chase CEO To Testify In June About Trading Loss

12:56 PM, May 25, 2012   |    comments
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WASHINGTON (AP) - JPMorgan Chase CEO Jamie Dimon is being asked to appear before a Senate panel next month to answer questions about the bank's $2 billion-plus trading loss.

The Senate Banking Committee on Friday scheduled a June 7 hearing for Dimon to testify. The hearing is one day after federal regulators appear before the panel on the topic.

Dimon has told the committee through a spokesman that he will testify. He has called the misstep "a black mark." The loss has revived Democrats' push for stricter oversight of Wall Street banks under the 2010 regulatory overhaul.

The Securities and Exchange Commission is reviewing what JPMorgan told investors about its finances and the risks it took weeks before suffering the loss.

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