WASHINGTON — The Senate Banking Committee announced Thursday that it will invite JPMorgan Chase (JPM) CEO Jamie Dimon to testify about the firm's $2 billion trading loss.
A spokeswoman for the bank said Dimon had agreed to do so, saying "As always, we will continue to be open and transparent with our regulators and Congress."
The committee did not state when the hearing will occur, but said that it will be sometime after June 6.
In the meantime, the Banking Committee plans to hold two hearings with financial regulators, who will be asked to provide an update on the loss by JPMorgan Chase.
The announcement by Banking Committee Chairman Tim Johnson followed calls by Republican Sens. Bob Corker and Mike Johanns to hold a hearing on JPMorgan Chase's loss.
Johnson, D-S.D., said in a statement Thursday that the committee's staff has talked to both the company and its regulators over the past week, and suggested that those conversations convinced him that the committee should hold a hearing on the matter.
"Our due diligence has made it clear that the Banking Committee should hear directly from JPMorgan Chase's CEO Jamie Dimon," he said.
The panel intends to hold a hearing May 22 with representatives from the Securities and Exchange Commission and on June 6 with officials from the banking regulators and the Consumer Financial Protection Bureau.
