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JPMorgan CEO Dimon to Apologize in Senate Testimony

“JPMorgan Chase‘s recent trading losses are an isolated incident and the bank is expected to be “solidly profitable” in the second quarter, Jamie Dimon, the bank’s chief executive, will tell the Senate Banking Committee on Wednesday.

Dimon will tell the committee the bank feels terrible about the trading debacle, while emphasizing the losses will only hurt shareholders, not taxpayers, and the bank maintains a “fortress balance sheet,” according to his prepared testimony.”

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