Raj Date, special adviser to the Treasury Department for the Consumer Financial Protection Bureau (CFPB), testified the agency's accomplishments in its first 100 days. Committee Chairman Spencer Bachus called for more oversight of the agency suggesting it could "easily become a loose cannon." Mr. Date countered saying "Talk is cheap….look at what we do." The CFPB officially began work on July 21, 2011 assuming oversight of consumer finance regulations from other federal agencies.