May 31, 2012

JPMorgan’s Dimon to Testify on Losses June 13

CEO to testify before Senate Banking Committee

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JPMorgan Chase CEO Jamie Dimon will testify before the Senate Banking Committee on June 13 regarding the bank's reported $2 billion trading losses, the committee announced Thursday.

Jamie Dimon, CEO, JPMorgan ChaseThe hearing with Dimon (left) had previously been announced for June 7; however, a Senate Banking Committee spokesman said that June 13 is the only date in June that works for both the Senate Banking Committee and Dimon.

On May 22, committee members heard from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commisssion (CFTC). At that hearing, both regulators confirmed they were investigating JPMorgan.

The second hearing will be held June 6, with testimony from officials from the Federal Reserve, Federal Deposit Insurance Corp. (FDIC), Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) as well as the Treasury Department.

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