JPMorgan CEO willing to appear before Senate panel

WASHINGTON (AP) ? JPMorgan Chase CEO Jamie Dimon is willing to testify at a congressional hearing this spring on the bank's $2 billion trading loss.

Chairman Sen. Tim Johnson, a South Dakota Democrat, says he has invited Dimon to testify about the loss at the nation's largest bank. Since Dimon acknowledged the misstep, Democratic lawmakers have stepped up calls for stricter oversight of major financial firms.

A spokeswoman for the bank says Dimon will accept the invitation.

Johnson says the committee will hold hearings on Tuesday and June 6 at which federal regulators will provide information on the trading loss. Dimon would testify at a third hearing sometime later, Johnson said.

Dimon this week apologized to the bank's shareholders for the loss.

Associated Press

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