On March 4th, Senate Banking Committee Chairman Christopher Dodd issued a statement reiterating the important need for a strong, independent consumer protection watchdog. "I am pushing for an office with an independent head, appointed by the President and confirmed by the Senate; that has an independent budget to do its work; autonomy to craft rules; and an ability to enforce those rules." Dodd Statement. On March 3rd, House Financial Services Committee Chairman Barney Frank stated: "I do not support housing the Consumer Financial Protection Agency in the Federal Reserve." Frank did say that he could support housing this function in the Treasury Department, "provided that the entity has sufficient independence and broad regulatory scope to accomplish the mission of protecting consumers." Frank Statement.