Minn. panel looks at health of state banks

A spate of bank closures is prompting a Capitol hearing on Tuesday about the state of Minnesota's banks.

The Senate Commerce and Consumer Protection Committee will hear testimony about oversight and lending practices of the state's banks.

Panel chairwoman Sen. Linda Scheid says consumers need to know that their financial institutions are acting fiscally responsible and are adequately supervised.

She says the hearing will let the public know that the money they have in banks is safe.

Representatives of bankers' and credit union groups will speak, along with officials at the Minnesota Department of Commerce who regulate the state's banking industry.