Members of the U.S. Senate recently approved legislation that would add further oversight to credit cards and savings accounts, although a survey shows some Americans would prefer the government stay out of financial affairs.

According to the poll from GfK Financial Services, only 26 percent of those surveyed said they want more government involvement in financial services, compared to the 42 percent who said they would like to see less.

“With the slow economic recovery, the sheen is off the federal stimulus packages,” GfK Financial Services managing director Douglas Cottings said.

Recently, Senator Chris Dodd and Representative Barney Frank said they expect a financial reform bill to reach President Barack Obama’s desk by Independence Day. Currently, members of both chambers are working to iron out differences in legislative packages passed recently.

Both the House and Senate versions of financial reform would create a consumer financial protection office, which would monitor products such as credit cards and home loans. The House’s version would create an independent agency, while the Senate’s would house that bureau in the Federal Reserve System.

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