Senate’s Shelby Says He’ll Question Dimon About Risk Warnings

U.S. Senator Richard Shelby, the top Republican on the Senate Banking Committee, said he will press JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon on how much he knew about the trades that lost $2 billion.

“It has been reported that officials at JPMorgan may have dismissed warnings that the bank was not instituting appropriate risk management practices,” Alabama’s Shelby said in opening remarks prepared for today’s committee hearing. “Was Mr. Dimon aware of these warnings? If so, did he respond or did he disregard them?”

To contact the reporter on this story: Phil Mattingly in Washington at pmattingly@bloomberg.net

To contact the editor responsible for this story: Gregory Mott at gmott1@bloomberg.net

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