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.

Incoming administration officials, especially Treasury Secretary-designate Janet Yellen, are expected to push for stress tests, public disclosures and other requirements aimed at gauging banks' climate exposure and minimizing the threat of global warming to the financial system.

Treasury Secretary Steven Mnuchin has all but ruled out letting Fannie Mae and Freddie Mac exit U.S. control before he steps down, leaving it to the Biden administration to decide the fates of the mortgage giants.

The head of the House Financial Services Committee is already exerting influence by handing the president-elect a laundry list of Trump regulatory policies that she wants the incoming administration to reverse.

The Biden administration could curtail federal support for farmers, even with bankruptcies and requests for loan workouts on the rise. Banks are hoping that increases in crop prices and exports to China could help avert a credit crisis.

House Financial Services Committee Chairwoman Maxine Waters urged the incoming administration to overhaul policies on payday lending and the Community Reinvestment Act and make personnel changes at two agencies.

Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates.

The president-elect has legal backing to fire Director Kathy Kraninger thanks to a recent court ruling, but Republicans are prepared to challenge his ability to choose her successor.

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy.

More lending regulation and interchange restrictions are on tap, says Intrepid Ventures' Eric Grover.

If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.