U.S. senators preparing to hear testimony from () (JPM) CEO Jamie Dimon said they will press him to explain what led to more than $2 billion in trading losses and will be looking closely at whether they need to tighten exemptions in the so-called Volcker rule, Bloomberg reported Wednesday morning.
U.S. Senator Jeff Merkley, D-Ore., is pushing for stronger restrictions on banks’ bets with their own money through proprietary trading. He said JPMorgan took too much risk.
Read more at Bloomberg.
