Senator-elect Elizabeth Warren successfully beat out GOP incumbent Sen. Scott Brown securing herself a spot on the Senate Banking Committee.

"Critics have warned that the Massachusetts Democrat could have outsized influence on the committee given her strong and often critical views of the industry, but many observers have said that it would be difficult for Senate leaders to deny her a spot given her background," writes American Banker's Victoria Finkle.

Warren will be in a position to impact many regulations related to the Dodd-Frank reform law.

For the full piece see "Warren, Manchin Win Seats on Senate Banking Panel" (may require subscription).