Jamie Dimon fields Congress questions on $2B trading loss
Jamie Dimon, the embattled JPMorgan Chase CEO, returns to Congress Tuesday to face more questions about the $2 billion trading loss incurred by the bank. Jamie Dimon is testifying before the House Financial Services Committee.
JPMorgan Chase CEO Jamie Dimon prepares to testify on Capitol Hill in Washington,in this June 13 file photo. Dimon heads back to Congress Tuesday, June 19, 2012 to testify before the House Services Financial Committee.
Haraz N. Ghanbari/AP/File
Washington
JPMorgan Chase chief executive Jamie Dimon returns to Congress Tuesday to face more questions from U.S. lawmakers over a $2 billion-plus trading loss incurred by the bank.
Dimon is testifying before the House Financial Services Committee. He told a Senate Banking Committee last week that he was aware of the trading strategy used by the investment operation that suffered the loss but that he didn't approve it.
He said the bank made a mistake and that senior banking executives responsible for the loss will probably have their pay taken back by the company.
The loss disclosed last month has raised concerns that the biggest banks still pose risks to the U.S. financial system, less than four years after the financial crisis erupted.