Bank-friendly Senate Democrats fall in midterms, in blow to industry
But ultimately, having more Republicans in the Senate is perhaps more useful, said Richard Hunt, head of the Consumer Bankers Association. That’s because moderate Democrats were still hesitant to support initiatives helpful to industry for fear of blowback from their more progressive colleagues, he said.
"It's a mixed bag,” Hunt said. “You can make the argument you have more votes now. There were times the moderate Democrats wanted to support more common sense relief but they were beholden to the Elizabeth Warren faction."