Bankers beware: Elizabeth Warren becomes top Democrat on key Senate banking panel

Yahoo Finance11-13

The elevation of Elizabeth Warren as the top Democrat on a key Senate panel might be a case — for bank CEOs at least — of being careful what you wish for. Banks are cheering Republican control of the ...

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Warren is a high-profile former Presidential candidate who has long been a vocal critic of bank CEOs on issues from climate change to banking fees to CEO pay.After securing her third term in U.S. Senate, Senator Elizabeth Warren waves to a crowd last week. . “I’m","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4581":"高盛持仓","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4534":"瑞士信贷持仓","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0306807586.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" (USD) INC QF","LU2129689514.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) INC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2129689431.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BAC":"美国银行","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","JPM":"摩根大通","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU":"陆金所","BK4207":"综合性银行","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4504":"桥水持仓"},"translate_title":"银行家要小心：伊丽莎白·沃伦成为参议院关键银行业小组的民主党领袖","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BAC":0.9,"JPM":0.9,"LU":0.6},"content_text":"The elevation of Elizabeth Warren as the top Democrat on a key Senate panel might be a case — for bank CEOs at least — of being careful what you wish for.\nBanks are cheering Republican control of the White House and Senate, since the GOP is expected to usher in a more friendly environment for Wall Street.\nBut some post-election shifts mean that one of Washington's most prominent critics of banks will now be leading Democratic efforts on the Senate Banking, Housing, and Urban committee.\nWarren confirmed the news in a statement Wednesday, saying in part \"this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams.\"\nWarren is a high-profile former Presidential candidate who has long been a vocal critic of bank CEOs on issues from climate change to banking fees to CEO pay.\n\n\n\n  After securing her third term in U.S. Senate, Senator Elizabeth Warren waves to a crowd last week. (Erin Clark/The Boston Globe via Getty Images)\n \n\n  Boston Globe via Getty Images\n \n\nShe will now be the first Democratic questioner on the committee that has been the scene of closely watched hearings in recent years, with top CEOs like JPMorgan Chase's (JPM) Jamie Dimon and Bank of America’s (BAC) Brian Moynihan forced to answer questions from lawmakers on a range of topics.\nThe overall bright spot for banks is that come 2025, the first question they will face is set to be from a Republican much friendlier to their interests.\nThe current GOP ranking member on that committee is Sen. Tim Scott. The South Carolinian has tended to be much friendlier to bank concerns, especially around banking regulations.\nAnd the committee is expected to have a close eye on banking policy, with Donald Trump back in the White House. \nOne top concern over the last year has been the proposed Basel III endgame requirements that would increase the requirements for banks to set aside more capital to absorb future losses.\nScott has often criticized the proposal, including leading a call for the Biden administration to withdraw it entirely.\n\n\n\n  Sen. Tim Scott, R-S.C. (Bill Clark/CQ-Roll Call, Inc via Getty Images)\n \n\n  Bill Clark via Getty Images\n \n\nWarren’s ascension comes after Sen. Sherrod Brown lost his seat last week and Democrats lost control of the upper chamber. GOP challenger Bernie Moreno defeated Brown in Ohio and is set to be sworn in to take his seat.\nAnother top Banking committee Democrat, Sen. Jon Tester of Montana, also lost his seat and other senior Democrats like Sens. Jack Reed and Mark Warner are expected to focus on other committees in the years ahead.\n“I’ve spent my entire career fighting to make our economy work better for middle-class families – not just for the wealthy and well-connected,” Warren added in Wednesday’s statement\n“I’m grateful for the opportunity to fight for families who most need a government on their side,’ she added.\nBen Werschkul is Washington correspondent for Yahoo Finance.\nEvery Friday, Yahoo Finance's Rachelle Akuffo, Rick Newman, and Ben Werschkul bring you a unique look at how U.S. policy and government affects your bottom line on Capitol Gains. Watch or listen to Capitol Gains on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\n\n\n\n\nClick here for political news related to business and money policies that will shape tomorrow's stock prices\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483262833"}