Senate Subcommittee on Investigations to Hold Hearing on Bank Ownership of Physical Commodities

The Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee on Investigations scheduled a two-day hearing, titled "Wall Street Bank Involvement with Physical Commodities," to be held on November 20 and November 21, 2014.

According to its release, the Subcommittee plans to examine the extent to which banks and their holding companies own physical commodities, such as oil, natural gas, aluminum and other industrial metals, as well as own or control businesses, such as power plants, oil and gas pipelines, and commodity warehouses.

Subcommittee Chair Carl Levin (D-MI) is scheduled to retire at the end of this term, after which control of the Subcommittee will transfer to the GOP when they become the Senate majority party.

See: Senate Subcommittee Press Release.