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The political betting world’s regulatory nemesis has been the CFTC, which regulates derivatives trading and has long-running concerns that election-related betting runs afoul of rules for that market.
Yellen is drawing Warren’s ire over the issue of bank mergers.
Republicans will pitch greater oversight of the biggest asset management firms.
Senate Banking Chair Sherrod Brown rallied every one of his committee Democrats and all but two Republicans on Wednesday to support a bill that would ratchet up penalties for the executives of failed banks, increase Federal Reserve transparency and put new restrictions on acquisitions by megabanks.
Bankers will be watching the speech closely. They’re hopeful that the Biden administration will be more accommodating of bank consolidation to help shore up the industry.