Will Massachusetts’ newly elected Senator, Elizabeth Warren, get on the Banking Committee? Will she thwart efforts to modify the Dodd-Frank? Republicans and the financial industry executives are anxious to know.
"Some argue that Warren will be less outspoken and more conciliatory once in the Senate," writes American Banker’s Victoria Finkle.
"The Senate is the Senate, and it doesn't change its folkways and customs for anyone. Was Hillary Clinton handed the key to the Senate treasure, even though she was one of the two or three best known senators instantly in 2001? Not a chance," said Larry Sabato of the Center for Politics at the University of Virginia.
Other industry observers predict she’ll come out in full force:
"She's not the first consumer advocate out there, but how many other advocates out there have put together such a powerful political machine?" said Edward Mills of FBR Capital Markets. "People are concerned that she would certainly be a firewall against changes to the CFPB – it's her baby."
For the full piece see "Warren Wins Senate Seat; Likely to Play Key Role on Banking Issues" (may require subscription).