U.S. Senate banking panel to hold hearings on sector's woes, chair says

The Democratic head of the U.S. Senate Banking Committee on Wednesday said the panel would hold hearings on the bank industry's problems but that any new legislation was unlikely to pass the Republican-controlled U.S. House of Representatives.

The panel's chairman, Sherrod Brown, speaking to reporters, did not give a date for any hearings but said they would provide "oversight."