Treasury Secretary Timothy Geithner testified on the U.S. economy and financial stability. Among the topics he addressed were the state of the economy and the operation of the Financial Stability Oversight Council. He also said the U.S. economy had very limited direct exposure to economic problems in Europe, and advocated national standards for mortgage financing. The committee began by approving the president’s nominee to head the Consumer Financial Protection Bureau, however several Senate Republicans said they would block the nominee from a full Senate vote until several changes were made to the bureau.