Wall Street banks brace for ‘political theater’ as Democrats return to power | Fortune

Democrats’ return to power in Washington is putting Wall Street banks on alert for a fresh round of hearings and public pressure, with Senator Elizabeth Warren of Massachusetts in line to chair the Senate Banking Committee. Bank executives and lobbyists are preparing for what they describe as political theater rather than a near-term overhaul of rules, and few expect major legislative change anytime soon. Warren has built a reputation for confrontational questioning of bank chiefs, making her gavel a focal point for the industry. The shift matters because it signals louder scrutiny of large lenders even while the policy agenda remains unsettled. What to watch next is how aggressively Warren uses the committee’s oversight and subpoena powers, and whether rhetorical pressure translates into actual changes in capital, consumer-protection or merger policy.