Midterms to shake up top posts on House finance panel

Midterms to shake up top posts on House finance panel

The midterms are poised to have a significant impact on how the House oversees the financial sector, regardless of which side wins in November. 

A Democratic takeover of the House would propel Rep. Maxine Waters (D-Calif.), the House Financial Services Committee’s ranking member and a fierce critic of President Trump, into a powerful perch with subpoena power.

Her ascension could pose new political challenges for the nation’s biggest banks and force the White House to contend with congressional probes into the president’s personal finances during the 2020 election season.

Republicans, meanwhile, are attempting to defend their House majority, and GOP lawmakers on the Financial Services Committee are jockeying for position to succeed Hensarling, who’s retiring from Congress at the end of this term. The Hill has more on this.

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