White House opposes Fed audit, hasn't decided on veto

The Shelby-McConnnell amendment is under consideration today by the Senate but there is broad disagreement between Democrats and Republicans on the best way to provide greater consumer financial protections.

On other amendments, Wolin says he doesn't think the size of banks is the most important issue in regards to a Democratic amendment that would limit their size. 

The White House also has yet to take a "precise" position on a proposal by Sen. Blanche Lincoln (D-Ark.) that would force banks to spin off derivatives trading, another major sticking point on the legislation.