BUSINESS
05/25/2012 01:27 pm ET Updated Jul 25, 2012

Jamie Dimon To Testify June 7 On Bank's Trading Loss Before Senate Banking Committee

By Alexandra Alper

WASHINGTON, May 25 (Reuters) - JPMorgan Chase & Co's Chief Executive Jamie Dimon will be invited to testify before a Senate Banking Committee panel on June 7 to give lawmakers insight into the largest U.S. bank's mounting $2 billion trading loss, Senator Tim Johnson said on Friday.

"As part of the Committee's continued oversight of the implementation of the Wall Street Reform Act and in an effort to get to the bottom of the massive trading loss announced by JPMorgan Chase, I am going to invite JPMorgan CEO Jamie Dimon to testify before the Banking Committee on June 7," Johnson, the Committee's Democratic chairman, said in a statement.