(Bloomberg) -- Providers of money-market mutual funds and the states and corporations relying on them to manage cash will tell U.S. House lawmakers today to be wary of new regulation of the $2.6 trillion industry.

A hearing before the House Financial Services Committee today provides a public forum for the industry to kick off a new lobbying campaign against the proposal. The SEC is weighing new arguments from providers of money funds as it decides whether to amend its plan, which was issued in June after a previous effort splintered the five-member commission last year.

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