The House Financial Services Committee approved a measure that would expand the Government Accountability Office's audits of the Federal Reserve to cover interest-rate decisions and information on loans made to individual banks. However, the House panel postponed a vote on a sweeping systemic risk bill on concerns raised by the Congressional Black Caucus. Meanwhile, Treasury Secretary Timothy Geithner traded verbal insults with other lawmakers. Geithner also said that all financial firms need to be regulated and that the largest of them need a strong, single regulator.
Published in Brief: