WASHINGTON — Congress might be poised for a legislative shakeup in monetary coverage after the 2022 midterms, with key Democratic lawmakers on the Home and Senate banking committees dealing with powerful re-election contests and Republicans retiring in vital numbers.
For congressional Democrats nationwide, the electoral prospects in 2022 already seem considerably dire. Midterm elections after the election of a brand new president are sometimes unkind to the party in power, and up to date polls put the GOP forward of Democrats on a generic poll for the first time since 2014.
However a lot of Republicans who sit on the monetary committees are headed to the exit fairly than working once more in 2022, together with Sen. Pat Toomey, R-Pa., who’s the rating member on the Senate Banking Committee.
Outdoors of Toomey, a lot of the management throughout the monetary committees is anticipated to stay round: Senate Banking Chair Sherrod Brown, D-Ohio, isn’t up for reelection till 2024, whereas Chair Maxine Waters, D-Calif. and Rating Member Patrick McHenry, R-N.C., of the Home Monetary Providers Committee are each thought-about to have protected seats heading into 2022.
However within the meantime, the members these leaders will depend on to usher of their legislative agenda — or quash their opposition — might be posed for vital churn.
What follows are six congressional contests bankers ought to watch intently within the months between now and November.