Changes Coming for Financial Services

November 20, 2024
Erica Derricks
Reading Time: < 1 minute

Financial market agents are paying close attention to the coming reorganization of the new Congress – for good reason. Changes are coming and they may be big.

Here’s a link to the Politico analysis of the positions of the two competing Republicans, Reps. Andy Barr and French Hill, who aspire to chair the House Financial Services Committee in the forthcoming Congress. (“Inside the GOP race to lead House Financial Services,” https://www.politico.com/newsletters/morning-money/2024/11/18/inside-the-gop-race-to-lead-house-financial-services-00190081)

Many changes are now possible with a Republican sweep of House, Senate, and White House. And the influence of the Project 2025 plan drafted by the Heritage Foundation has resurfaced in the post-election environment.

IMO, an attack is coming on the Consumer Financial Protection Bureau (CFPB). Here’s their website: https://www.consumerfinance.gov/.

In the new Congress, Senator Elizabeth Warren will be in the Senate minority, and the array of new Senators and the array of new House Members means that she is unlikely to be able to protect this federal agency.

This agency is likely to have diminished power in the future. It may even be entirely eliminated.

What replaces it, or whether anything replaces it, is an open question. And there is certainly a spirited debate about its importance and efficacy.

Either way, change is coming quickly in financial services.

Details to be determined and revealed as this new political landscape unfolds.

Share this article

President Proposes; Congress Disposes. Maybe?

“It is the duty of the President to propose and it is the privilege of the Congress to dispose.”
– Franklin D. Roosevelt

A History Lesson?

This Sunday’s missive is about geopolitical risk and what may be leading to a war. IMO, we already have a “proxy” war. Did we learn anything from the 1930s? Is history “rhyming?”

Election, Options, Betting Markets

The presidential election betting has made headlines in a unique way in this 2024 election marathon. So has stock option trading. Some speculate that the two have become interrelated. Here’s some food for thought.

Milton!

The Climate Adaptation Center will be holding a conference at ground zero in Sarasota, at the University of South Florida Conference Center, November 14–15. It is now expected to be a blockbuster event.

Contact David

David would love to hear from you. Please Feel free to reach out and send an email.

Subscribe to The Kotok Report

QUICK LINKS

CONTACT

The information posted on this website (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of David Kotok, and should not be regarded as the views of Cumberland Advisors Inc., its Officers, Directors or employees or as a description of advisory services.

Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. It also should not be construed as an offer soliciting the purchase or sale of any security mentioned. Nor should it be construed as an offer to provide investment advisory services by David Kotok. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.

This content, which may contain security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as investment advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

Any charts provided here are for informational purposes only and should not be relied upon when making any investment decision. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Information in charts has been obtained from third-party sources deemed to be reliable. While taken from sources believed to be reliable, David Kotok makes no representations about the accuracy of the information or its appropriateness for a given situation. All content speaks only as of the date indicated.