Republicans in the U.S. Congress were uniting behind a call to repeal all or part of the 2010 financial regulatory overhaul. Since JPMorgan Chase & Co. announced its $2 billion trading loss earlier this month, that front has splintered.
Some are seeking investigations, with Senator Mike Crapo of Idaho among those calling on JPMorgan Chairman and chief executive officer Jamie Dimon to testify, which he has agreed to do. Senator Richard Shelby of Alabama, the Banking Committee’s top Republican, said the loss emphasizes the need for capital standards for banks tougher than what the overhaul requires. Senator Lamar Alexander of Tennessee says Congress has no business getting involved.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
