WASHINGTON (AP) - The Federal Reserve says it will review how it oversees the biggest U.S. banks amid criticism that it has grown too close to the financial institutions it is charged with regulating.

WASHINGTON (AP) The Federal Reserve says it will review how it oversees the biggest U.S. banks amid criticism that it has grown too close to the financial institutions it is charged with regulating.

The Fed announced the review late Thursday. On Friday, a Senate subcommittee will hold a hearing on whether Fed examiners particularly in its New York operation have become too cozy with the big banks they oversee.

The central bank said the review will examine whether its decision-makers get the information they need to make good decisions in their inspection and oversight of banks. It also will look at the Fed's internal culture, and whether dissenting views related to oversight are stifled.

The bailout of Wall Street banks during the 2008 financial crisis brought the issue forward.