WASHINGTON, Nov 9 (Reuters) – Wall Street executives and major corporations “should preserve their documents and prepare to answer tough questions” as US Democratic Senator Elizabeth Warren prepares to take over as chair of the Senate Banking Committee next year, a Warren banking committee aide said on Monday.
Warren’s agenda will build on issues she has focused on throughout her career, including lowering costs, reining in industries she sees as undermining Americans’ financial security and rooting out corruption, said the aide, who spoke anonymously to discuss sensitive policy issues.
Warren is currently the ranking Democrat on the committee and is widely expected to become its chair next year, putting the longtime Wall Street critic in her most powerful position yet.
According to the aide, Warren’s initial areas of focus will include:
• Affordability and consumer costs: Warren plans to focus on groceries, private equity, auto and home insurance, credit card debt, medical and other consumer debt, student loans and housing.
• Artificial intelligence and China: Warren plans to push for constraints on advanced AI chips going to China, an issue on which she has introduced bipartisan legislation.
• Prediction markets: Warren plans to increase scrutiny of prediction markets, including beefing up oversight of the novel markets and cracking down on potential insider trading.
• Financial stability: Warren plans to hold hearings and pursue policy measures aimed at preventing a potential financial crisis, including risks associated with the AI bubble and private credit.
• Accountability and oversight: Warren plans to use the committee’s oversight powers to scrutinize President Donald Trump, his administration and associates.
(Reporting by Michelle Price; Editing by Nia Williams)
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