WASHINGTON -- U.S. lawmakers should demand more accountability from the government's $700 billion financial rescue package before releasing the second half of the funds, the head of the program's watchdog panel said Friday.

"We would urge Congress to consider the accountability and transparency questions, the question of whether money is going to be used for foreclosures, and the overall strategy issues as part of any additional requests made for more money," said Harvard Law School Professor Elizabeth Warren, who chairs a...