Neil Haggerty

Several Senate, House and gubernatorial battles are of interest to financial firms. Here is a spotlight on specific contests, with updates as they become available.

The battle gaining the most attention Tuesday night will be which party controls the House next year. But other key races will help determine the makeup of the Senate Banking Committee.

The result could play a big role in whether banks see more regulatory relief next year or policymakers can coalesce around a housing finance reform plan.

At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run.

The central bank said the proposal is intended to eliminate duplication of rules for entities covered by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

The central bank, which received broad authority after the crisis to supervise big banks, is expected to get more attention from lawmakers over its discretion to ease banks’ burden.

The proposal by Reps. Jeb Hensarling and John Delaney is a sign that a bipartisan consensus is building on how to move on from Fannie and Freddie.

The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions.