JPMorgan CEO says execs may have pay taken back
WASHINGTON – JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.
"It's likely that there will be clawbacks," Dimon told the Senate Banking Committee.
Under bank policy, Dimon said, stock and bonuses can be recovered from executives, even for exercising bad judgment. The policy has never been invoked, he said.
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