WASHINGTON — A Senate panel on Thursday issued a scathing assessment of JPMorgan's $6.2 billion trading loss last year. The investigation found that bank executives ignored growing risks and hid losses from investors and federal regulators.
Executives at JPMorgan understated the trading losses to federal examiners by hundreds of millions of dollars and dismissed questions raised about the trading risks, according to the report from the Senate Permanent Subcommittee on Investigations.