Senate Lets Fed Retain Oversight of Smaller Banks

If this is so, then I would ask that the Feds move with its oversight of Flagstar Bank a Michigan based Depository and help to right that ship. Flagstar holds too many accounts to go belly up. I think their current management team may be able to get things going in the right direction, but the Michigan Senate and House... Finance arms ought to work to get that Bank on the right side of a balance sheet-that would be all we need to lose the auto industry to a near catastrophe and then lose a bank on top of the Bank bailouts!See MoreSenate lets Fed retain oversight of smaller banks.

Washington -- The Senate has overwhelmingly voted to let the Federal Reserve retain its supervision of smaller banks. The measure changes a financial regulation bill that would have given the central bank oversight only over large financial institutions.

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