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Sen. Johnson calls JPMorgan CEO to banking committee

WASHINGTON -- Sen. Tim Johnson has scheduled a hearing with JPMorgan Chief Executive Officer Jamie Dimon before the Senate Banking Committee. Johnson, D-S.D., is the chairman of the committee. JPMorgan recently announced at least $2 billion in tr...

Tim Johnson
Tim Johnson

WASHINGTON -- Sen. Tim Johnson has scheduled a hearing with JPMorgan Chief Executive Officer Jamie Dimon before the Senate Banking Committee.

Johnson, D-S.D., is the chairman of the committee.

JPMorgan recently announced at least $2 billion in trading losses at its chief investment office.

"As part of the committee's continued oversight of the implementation of the Wall Street Reform Act and in an effort to get to the bottom of the massive trading loss announced by JPMorgan Chase, I am going to invite JPMorgan CEO Jamie Dimon to testify before the banking committee on June 7 at 10 a.m." Johnson said.

"As these events have amply demonstrated -- much to the dismay of those who endlessly seek to roll back this tough, new law -- Wall Street continues to need better risk management, vigorous oversight and unyielding enforcement," he said.

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"I expect Mr. Dimon to come prepared to provide the committee a better understanding of this massive trading loss so we can take the implications into account as we continue to conduct our robust oversight over the full implementation of Wall Street reform," Johnson said.

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