US Senator Warren is expected to take charge of the Senate Banking Committee, potentially investigating the WLFI bank charter approval.

BlockBeats news, November 6 - According to Reuters, U.S. Democratic Senator Elizabeth Warren is expected to become the chair of the Senate Banking Committee in January next year after Democrats take control of Congress. At that time, she will gain more staff, the power to issue subpoenas and request testimony, and control over the committee's agenda. Large banks, consumer credit institutions, private equity firms, and crypto companies may face stricter scrutiny. Brian Gardner, Chief Washington Policy Strategist at Stifel, expects a large number of investigations to emerge.

A person familiar with Warren's thinking said she may investigate the Office of the Comptroller of the Currency (OCC)'s decision in August this year to approve a bank charter for World Liberty Financial, which is backed by Trump. In addition, the Trump administration's large-scale dismissal of financial regulatory agency employees and attempts to shut down the Consumer Financial Protection Bureau (CFPB) may also become targets of investigation. Warren was involved in creating the CFPB.

On policy, another person familiar with the matter said Warren will push issues with bipartisan support, especially reducing the cost of living. This year, she helped advance bipartisan housing affordability legislation and, with Republican lawmakers, proposed a bill to restrict exports of advanced chips and other technologies. In an article in Time magazine, Warren said she is willing to work with Republicans who listen to the public, and said: "Big Tech CEOs, Wall Street executives, and large corporations should be prepared to answer tough questions."

The committee position arrangements still await a decision by Democrats in the coming weeks. Although in theory two or three Democratic senators rank ahead of Warren, analysts expect they will choose other committee positions. The White House responded that Trump is willing to work with anyone for the American people, but "sham investigations and radical left-wing policies" will undermine such efforts.