Election 2020

Election-reform advocates say the American Bankers Association and other organizations should take into account candidates’ commitment to democracy, not just their stances on issues, in directing donations.

Steve Daines of Montana, Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming are joining the panel for the 117th Congress.

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

Sen. Sherrod Brown of Ohio signaled a change in direction for the Banking Committee under Democratic control, on the same day he called for President Trump's ouster after the U.S. Capitol riot.

History will remember Wednesday for the anti-democracy domestic terrorism that resulted in death, injuries and damage inside the U.S. Capitol — but did not thwart the process of confirming the presidential election. It was also a day that Georgia's Senate runoff gave much-needed clarity to the fintech sector.

JPMorgan Chase's Jamie Dimon and Citi's Michael Corbat condemned the actions of Trump supporters who stormed the halls of Congress Wednesday.

Several members of Congress challenging the result of the 2020 presidential contest received financial support from trade groups that could find themselves in hot water with some constituents.

The Georgia runoffs and resulting balance of power in Congress will help determine which bills on bankers’ wish list gain traction. But regardless, existing coronavirus relief such as the Paycheck Protection Program and a push for more economic aid will remain top of mind for lawmakers and the industry.

The final outcome of the November election will be decided on Jan. 5 in Georgia, with the balance of power in the Senate at stake, as well as at least two years of financial services and technology policy.