WASHINGTON -- When Treasury Secretary Timothy Geithner unveiled his revamp of the U.S. bank-bailout fund, one of his central objectives was toughening oversight of how the money is used. Meeting that goal could be a challenge, though.

The Congressional Oversight Panel, the body named by Congress to oversee the $700 billion bailout, consists of five strong-minded members who agree about the enormity of their task, and little else.

The...