Dimon faces tougher questions on $2B trading loss - 13 WTHR Indianapolis

JPMorgan Chase CEO Jamie Dimon got a chillier reception Tuesday when he returned to Capitol Hill for a second round of questions over the bank's $2 billion trading loss.

House lawmakers from both parties pressed Dimon on a number of fronts, such as whether the bank managed risk correctly and if it has become too big to control.

The hearing before the House Financial Services Committee was far more confrontational than Dimon's appearance last week before the Senate Banking Committee.

For his part, Dimon again apologized for the trading loss and the damage it caused to shareholders. The company has lost about $23 billion in market value since it came to light on May 10.

But Dimon stressed that taxpayers and customers of the bank were not affected by the loss.

The Securities and Exchange Commission is examining whether JPMorgan's earnings report on April 13 gave adequate information on the risk model the bank was using.

Earlier at the hearing, SEC Chairman Mary Schapiro told the panel "there could be" violations that would merit legal sanctions against the bank.

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