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Banks Brace for Scrutiny
Major U.S. banks are bracing for investigations and congressional hearings after Democrats won control of both the House and Senate and are set to take over committee chairmanships in January 2027. Oversight is likely to focus on bank fees, lending, mortgages and credit-card interest rates, as well as the impact of easing capital requirements and regulatory restrictions on consumer protection. Bank executives may be called to testify. Meanwhile, banks are pushing for legislation requiring technology companies and social media platforms to step up their efforts to combat financial fraud, including AI-enabled scams.
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