Warren Expected to Become Senate Banking Committee Chair in January, May Investigate WLFI Bank Charter Approval

Odaily: U.S. Democratic Senator Elizabeth Warren is expected to become Chair of the Senate Banking Committee in January next year after Democrats take control of Congress, though the related appointment arrangements are still pending a decision by Democrats in the coming weeks. If she becomes chair, she will gain additional staff, the power to issue subpoenas and compel testimony, and control over the committee's agenda.

A person familiar with the matter said Warren may investigate the Office of the Comptroller of the Currency (OCC)'s decision in August this year to approve the bank charter for World Liberty Financial, which is backed by Trump. The Trump administration's large-scale dismissal of financial regulatory agency employees and attempts to shut down the Consumer Financial Protection Bureau (CFPB) may also become subjects of investigation. On policy, Warren will push for issues with bipartisan support, especially reducing the cost of living; this year she helped advance bipartisan housing affordability legislation and jointly proposed a bill with Republican lawmakers to restrict exports of advanced chips and other technologies.