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 said that all financial firms needed to be regulated and that the largest of them needed a strong, single regulator.

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