Panel sets June 7 date for JPMorgan CEO to testify

AP News
Posted: May 25, 2012 5:26 PM
Panel sets June 7 date for JPMorgan CEO to testify

JPMorgan Chase CEO Jamie Dimon is being asked to appear before Senate and House panels 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 says through a spokeswoman that he will testify. He has yet to commit to the June 7 hearing. But he is discussing dates with the panel and the House Financial Services Committee.

The House committee hasn't set a date for Dimon to appear.

Dimon 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.