Reactions mixed on Dimon's Senate appearance

Welcome to the morning roundup. Here's a look at today's banking and finance headlines.

Dimon on the Hill. A New York Times editorial argues senators did not press JPMorgan Chase & Co. CEO Jamie Dimon "nearly hard enough" during his appearance before the Senate Banking Committee. Meanwhile, a Wall Street Journal opinion piece says Dimon "delivered some lessons" to the Senate during his testimony, a month after the bank revealed a multibillion-dollar trading loss. And a corporate governance expert writes in Fortune that the JPM debacle raises more questions about executive pay.

BofA edges ahead. Charlotte's Bank of America Corp. overtook JPMorgan as the biggest lender to the commodities industry in the first five months as French lenders retreated amid the European debt crisis, Bloomberg reports. Commodity loans Bank of America arranged totaled $14.7 billion, ahead of JPMorgan's $14.4 billion.

 JPM bets and corporate debt. JPMorgan's bets on corporate debt might have sent false signals about the financial health of blue-chip U.S. companies, Reuters reports. The struggle between JPMorgan and hedge funds on the other side of its gamble gave some investors unfavorable ideas about the credit quality of big companies, even when their underlying finances were largely unchanged, Reuters writes.

Household wealth. CNBC examines "why the rich recovered and the rest didn't" after the recession. For one, the wealthy have a greater proportion of their wealth in stocks and less of it in homes - and while financial investments have rebounded, real estate hasn't.