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Dimon Tells Senate Clawbacks of Executive Pay Are 'Likely'

By Alan Zibel WASHINGTON--The chief executive of J.P. Morgan Chase & Co. (JPM) told U.S. Senate lawmakers Wednesday it's "likely" that the company's board will seek to recoup pay from executives faulted in the bank's multi-billion dollar trading loss. Asked about whether there would be "clawbacks" of such pay, CEO James Dimon said the company's board is still reviewing the matter. But he added that "You can expect we will take proper corrective action. And I would say it's likely, though this is subject to the board, but it's likely there will be clawbacks." Mr. Dimon added that the bank has the ability to seek return of compensation "even for things like bad judgment." The bank, he said, can demand the return unvested stock and cash bonues. "it's pretty extensive, the ability to clawback," Mr. Dimon said. Write to Alan Zibel at alan.zibel@dowjones.com

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
10/01/201412:40:18J.P. Morgan Expects $869 Million Credit for Mortgage Actions
10/01/201412:30:31J.P. Morgan Expects $869 Million in Credit for Consumer Mortgage...
09/29/201423:00:21Bank Branches in U.S. Dip to Lowest Since 2005
09/29/201422:52:12Bank Branches in U.S. Decline to Lowest Level Since 2005 -- Update
09/29/201418:01:11Bank Branches in U.S. Decline to Lowest Level Since 2005
09/26/201412:20:11LONDON MARKETS: Bank Stocks Lift FTSE 100; Sports Direct Drops
09/16/201409:44:34U.S. Hot Stocks: Hot Stocks to Watch
09/12/201415:23:39Weather Channel In Talks With Banks on Strategic Options -Bloomberg
09/11/201419:00:08Treasury Monitoring Swaps Loopholes at U.S. Banks
09/03/201401:31:51J.P. Morgan in Talks to Sell Oil-Supply Agreement
09/03/201401:30:21FBI Finds No Evidence J.P. Morgan Breach Hit Other Big U.S. Banks
09/01/201409:40:56US Court Dismisses Aluminum Antitrust Cases
09/01/201407:04:50US Court Dismisses Antitrust Cases Against Aluminum Traders
08/28/201414:25:10J.P. Morgan Working With Law Enforcement on Cyber Attack -- 3rd...
08/28/201414:17:23J.P. Morgan Working With Law Enforcement on Cyber Attack -- 2nd...
08/28/201414:07:17J.P. Morgan Working With Law Enforcement on Cyber Attack -- Update
08/28/201414:04:53FBI Probes Possible Hacking Incident at J.P. Morgan -- 3rd Update
08/27/201417:46:19FBI Probes Possible Hacking Incident at J.P. Morgan -- 2nd Update
08/27/201417:45:00FBI Probes Possible Hacking Incident at J.P. Morgan
08/27/201417:44:58FBI Probes Possible Computer Hacking Incident at J.P. Morgan...

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