With Democrats likely to take control of the U.S. House in midterm elections, analysts expect some near-term pressure on bank stocks but say it won’t be all bad news.
Representative Maxine Waters (D-Calif.) at the helm of the Financial Services Committee might seek to return attention to Wells Fargo & Co.’s misdeeds. Some also expect fresh calls to break up the biggest banks. Even so, most market watchers anticipate President Donald Trump’s efforts to ease bank rules will continue, as his regulators are firmly in place.
