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Wednesday, November 5, 2014

ABA Analyzes What Midterm Elections Mean for Bankers

ABA’s government relations team has prepared an analysis of how the Republican victory in the 2014 election will affect the banking industry. The analysis, which is available on aba.com, reviews the likely impact on such key issues as Dodd-Frank regulatory fixes, the CFPB, overall regulatory burden, data security, GSE reform and tax reform.

There is cautious optimism about the potential for tweaks to Dodd-Frank and more oversight of financial regulators, the analysis indicates. The analysis found that:

Congress can play a critical role ... in terms of both legislation and aggressive oversight of regulatory actions. The U.S. Senate under current Democratic leadership has been reluctant to take on that role. We anticipate that the incoming leadership will be more active in their oversight responsibilities and will originate and consider some regulatory relief bills in the 114th Congress.

Read the analysis.

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