Following the Democrats’ victory in the midterm elections, Senator Elizabeth Warren is widely expected to become chair of the Senate Banking Committee in January. A longtime critic of Wall Street, she is expected to push for tighter oversight of the financial industry.
The role would give Warren expanded authority, including the power to issue subpoenas, compel testimony and advance legislation. Major banks, private equity firms and cryptocurrency companies are anticipating increased scrutiny.
Analysts expect Warren to launch numerous investigations and focus on bank mergers, consumer protection and private credit transparency.