Rep. Paul Kanjorski, the House Financial Services Committee's No. 2 Democrat successfully squeaked out his reelection bid in Tuesday's elections, but several Republican financial services lawmakers lost their seats including Reps. Chris Shays of Connecticut, Tom Feeney of Florida and Sen. Elizabeth Dole of North Carolina.

In the Senate, former Senate Banking Committee member, Republican John Sununu who enjoyed widespread banking industry support, in part for his stance on government-sponsored enterprise reform, also lost his New Hampshire seat.

Newcomer to the Financial Services Committee, Rep. Don Cazayoux, a Democrat lost his Louisiana seat formerly held by Republican Richard Baker to Republican Bill Cassidy. Democrat Rep. Tim Mahoney of Florida, lost his seat as expected after being implicated in a sex scandal.

Other Financial Services Committee members in competitive races won their reelection battles including: Republican Reps. Michele Bachmann, of Minnesota, Jim Gerlach, of Pennsylvania, Peter Roskam of Illinois, Shelley Moore Capito of West Virginia, Scott Garrett of New Jersey, Dean Heller of Nevada and Patrick McHenry of North Carolina.

Committee Democrat Rep. Travis Childers, of Mississippi also kept his seat.

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