Panel sets June 7 date for JPMorgan CEO to testify

WASHINGTON (AP) - May 25, 2012

The Senate Banking Committee on Friday scheduled a June 7 hearing for Dimon to testify. The hearing is one day after federal regulators appear before the panel on the topic.

Dimon has told the committee through a spokesman that he will testify. He has called the misstep "a black mark." The loss has revived Democrats' push for stricter oversight of Wall Street banks under the 2010 regulatory overhaul.

The Securities and Exchange Commission is reviewing what JPMorgan told investors about its finances and the risks it took weeks before suffering the loss.

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