Election 2020

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

Wall Street's Democratic insiders, who have been cutting checks and winning access for decades, say they have plenty of sway in the former vice president's orbit, despite his very public wooing of the progressive left.

Industry groups also supported Democrat Christy Smith in a special election in California, though it appeared likely she would lose the bid.

The industry dodged a bullet after the former vice president outlasted more progressive rivals for the Democratic presidential nomination. But some worry the presumptive nominee will have to consider calls for tougher regulation from his party's liberal wing.

Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.

The Consumer Financial Protection Bureau will have a busy week starting with Director Kathy Kraninger testifying before lawmakers on Tuesday.

Candidates supportive of the industry were victorious in primary elections across five states.