Senate Dems Question Banks' Control Of Energy Assets

Law360, New York (July 23, 2013, 4:09 PM EDT) -- Democrats on the U.S. Senate Banking Committee said Tuesday they worry about the impact of the nation's largest banks owning physical commodities such as oil and electricity, and questioned whether regulators are capable of determining if banks trading in those commodities pose a danger to the U.S. economy.

At a hearing titled “Examining Financial Holding Companies: Should Banks Control Power Plants, Warehouses and Oil Refineries?,” members of the Subcommittee on Financial Institutions and Consumer Protection voiced concerns that laws and regulations enacted over the last 15...
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