Blue Senate committee raises risks for ABS lenders

Sherrod Brown Democrat Senate
By Jennifer Kang
11 Jan 2021

A blue Senate is posing a new threat to the ABS market, as regulators and lawmakers are set to turn their focus to consumer protection. Sherrod Brown, a critic of big banks and a loud consumer rights advocate, is now favourite to chair the Senate Committee on Banking, Housing and Urban Affairs, which could lead to a stream of headline risks for lenders.

ABS market participants were expecting a split government scenario, where the Democrats take control of the White House and House of Representatives, and the Republicans take the Senate majority.

The Georgia Senate race results rattled market participants, as Democrats Jon Ossoff and Raphael Warnock beat their Republican ...

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