Election 2018

Some of the tightest contests in the midterm elections may have big implications for the future of banking policy.

The banking industry group has so far endorsed six candidates in their re-election campaigns for the upcoming November elections.

Rep. Maxine Waters said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year's midterm elections and she becomes leader of the Financial Services Committee next year.

The American Bankers Association will run advertisements in support of Reps. French Hill and Bruce Poliquin, who are incumbents this November. The group has now endorsed three Republicans and a Democrat.

The Montana senator, who faces a tough re-election fight, was a key backer of the bipartisan bill to ease certain provisions of the Dodd-Frank Act.

The California Democrat would have more of a bully pulpit as chair of the Financial Services Committee, but some say she could take a pragmatic approach to passing banking legislation.

Regardless of which party controls the House or Senate after the midterm elections, the financial services panels in both chambers could have new leaders.

Rep. Maxine Waters made headlines this week for her scathing criticism of the White House. Expect more to come if she takes over as the Financial Services Committee chair next year.

The 13-term California Democrat is in line to chair the Financial Services Committee if her party wrests control of the House in the November election.

Months after a group of Democrats helped propel Dodd-Frank reforms forward, the opposition party’s identity crisis on banking policy is still on full display.