Election 2024
Election Preview
Analysts are watching both Vice President Kamala Harris and former President Donald Trump for potential regulatory picks, as well as how strongly Trump advocates for policies like tariffs and deportations that could impact the economy, inflation and bankers' prospects.
Markets welcomed the news of a second Trump presidency.
"If you had the Trump trade on for the last six weeks, it's been outstanding," said Ed Al-Hussainy, a rates strategist at Columbia Threadneedle Investment. "The question is these winning runs don't last forever and is this a good time to take profits."
While the message from investors is broadly positive, there is also a stern warning in the market gyrations.
The surge in Treasury yields underscores concerns that Trump's policies will swell an already bloated budget deficit and reignite an inflation spiral that the Federal Reserve was only just finally quelling in the wake of the pandemic.
The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris' goal of building three million new units in her first term.
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The failures of Silicon Valley Bank, Signature Bank and First Republic shook the banking system and sparked renewed debate among regulators and lawmakers about deposit insurance, bank capital and liquidity rules and resolvability. One year later, some of those policy debates have fallen by the wayside while others have been amplified.
Rep. Zach Nunn, R-Iowa, has won endorsements from key banking industry players this election year with his support for the ACRE Act. Here's why rural banking might be a winning issue in the toss-up race.
Eric Hovde, CEO of Sunwest Bank and Republican nominee for Senate in Wisconsin, is running a tight race against incumbent Democratic Sen. Tammy Baldwin. In an interview with American Banker, Hovde talked about wanting to deregulate the banking industry and bring financial savvy to Washington.
The former president has vowed to carry out an aggressive campaign of deregulation, renew expiring tax cuts, lower the corporate tax rate to 15% from 21%, and offer fresh tax reductions and benefits to bolster domestic manufacturing — policies cheered by prominent Wall Street and corporate leaders.
Donald Trump vowed to boost the U.S. auto industry by making interest on car loans fully tax-deductible and renegotiating a trade deal with Mexico and Canada as he courts Michigan.
In their only vice presidential debate, Democratic nominee and Minnesota Gov. Tim Walz talked about how housing should not be considered a "commodity," while Republican Sen. J.D. Vance tied housing shortages to illegal immigration and government regulation.
After Republican presidential nominee Donald Trump said he intends to place a temporary cap on credit card interest rates, many felt the plan would create a large constriction of credit.
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It's the latest proposal for a type of national infrastructure financing structure in lieu of the municipal bond market.
September 6
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The Republican presidential nominee laid out his economic platform during a speech at the Economic Club of New York.
September 5
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Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.
August 23
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Committee Chair Sherrod Brown is facing a tough election.
August 23
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Vice President Kamala Harris could stoke a conflict between bankers and merchants over interchange fees as she targets high food prices as part of her presidential campaign.
August 23
