A Congressional investigations subcommittee plans to widen its probe of the Libor interest rate scandal to include U.S. banks, its chairman said.

"We want to expand this investigation a little bit," Rep. Randy Neugebauer, (R-Texas), told FOX Business in an interview Wednesday. He chairs the oversight and investigations subcommittee of the House Financial Services Committee.

He added that a subcommittee hearing on the matter is "a real potential."

Last week, Neugebauer demanded and received background documents from the Federal Reserve Bank of New York (FRBNY) relating to its knowledge and handling of manipulation of Libor by Barclays bank of London. Last month, Barclays paid $450 million to U.S. and U.K. regulators to settle charges that it tried to rig the Libor process.

Trillions of dollars of mortgages, credit cards, student loans and other loans are based on Libor, an interest rate set each day by more than a dozen U.S. and foreign banks. The rate currently sits around  0.5%, and is the rate they charge to borrow from each other.