By MARCY GORDON, AP Business Writer
WASHINGTON (AP) — Federal regulators and lawmakers are renewing the focus on financial regulation in the wake of a multibillion-dollar trading loss at JPMorgan Chase & Co.
News of the surprise loss at JPMorgan, the biggest U.S. bank by assets, has revived calls by Obama administration officials and Democratic lawmakers for tougher oversight of Wall Street banks. But Republicans insist that the 2010 financial overhaul law won’t prevent another crisis and will drive business overseas. Regulators are still drafting rules for much of the law, and they have been lobbied by big banks to water down key areas.