By Peter Schroeder - 07/19/11 06:30 PM EDT
Frank, who steered the broad Wall Street overhaul through Congress as chairman of the House Financial Services Committee, will likely offer a vigorous defense of many of the law's major provisions. For example, he has fiercely criticized Republican efforts to cut the budgets of agencies implementing the law or to block nominees to head the new Consumer Financial Protection Bureau. However, he has not shied away from identifying areas of the law he now finds problematic.
He will be joined at the hearing by a number of top regulators charged with implementing the sweeping financial reform law. Among others, Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commission Chairwoman Mary Schapiro also will be testifying.