Last year Congress created the Consumer Financial Protection Bureau to police the terms of mortgages, credit cards and other financial products. But yesterday in an oversight hearing Republicans criticized the bureau for lacking Congressional oversight. Will the bureau wield too much power and hamper the economy? Or will it do a protect consumers from deceptive loans and offer consumers clarity on complex financial transactions?

Guests:

Carter Dougherty, Consumer Finance Reporter, Bloomberg News

Brad Sherman, Democratic Congressman from the San Fernando Valley's 27th Congressional district; member of the House Financial Services Committee

Mark Calabria, Director of Financial Regulation Studies, CATO Institute