Senate panel reviews bank ownership of power plants

The Senate Committee on Banking, Housing & Urban Affairs will convene a hearing July 23 on whether banks should control power plants and oil refineries.

The hearing is being held by the Subcommittee on Financial Institutions and Consumer Protection.

The panel will receive testimony on the blurring of the line between banking and commerce. Witnesses from the banking and commerce sector as well as the University of North Carolina are expected to testify.

The hearing, which will be webcast, is scheduled for 10 a.m. EDT.