CHICAGO — Michigan Gov. Rick Snyder has named the six-member team charged with reviewing Detroit's battered finances in a process that could eventually lead to the appointment of a financial manager.

The team's appointment late Tuesday follows the Department of Treasury's finding last week that the city faces a "serious financial problem" after a preliminary fiscal review ordered by the state. The process for such a review is laid out in the Local Government Fiscal Responsibility Act of 1990. Voters in November repealed a more recent emergency management law.

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