(Source: CNBC) – The new U.S. consumer financial watchdog is gearing up to deploy hundreds of examiners to large banks, saying Tuesday it will do year-round policing at the biggest and riskiest banks.The Consumer Financial Protection Bureau, which was created by last year’s Dodd-Frank financial oversight law and is set to open its doors on July 21, has been viewed warily by Wall Street.

Republicans and the bank industry have disparaged the agency as an unnecessary layer of regulation that, if overzealous, could restrict consumer choice and lending.

Source: CNBC

Published: Tuesday, 12 Jul 2011 | 4:44 PM ET

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