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JPMorgan Chase CEO To Testify On Trading Losses

Jun 13, 2012
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RENEE MONTAGNE, HOST:

NPR's business news starts with the head of JPMorgan Chase on the hot seat.

(SOUNDBITE OF MUSIC)

MONTAGNE: Jamie Dimon is testifying before the Senate Banking Committee this morning, about a $2 billion trading loss at the nation's biggest bank. The CEO of JPMorgan Chase told lawmakers that senior bank officials responsible for the loss will probably have some of their pay taken back by the company. Dimon says despite the massive losses disclosed this month, the bank's overall balance sheet remains solid. Transcript provided by NPR, Copyright NPR.