House Republicans used a July 14 hearing to accuse those setting up the new Consumer Financial Protection Bureau of not disclosing enough information and for not spelling out what financial products it plans to target for increased scrutiny.
Testy exchanges focus on potential compliance costs and financial products targeted for increased scrutiny.
An inspector general would have oversight of the new $30 billion Small Business Lending Fund if a bill with that proposal becomes law.
A bill that would provide oversight of the new $30 billion Small Business Lending Fund, including putting an inspector general in charge, has been introduced.
The issue of regulating interchange fees will be one of the topics lawmakers have to deal with when the House-Senate conference committee meets today to reconcile the differences between the financial reform bills passed by both chambers.