Blue Senate committee raises risks for ABS lenders

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Blue Senate committee raises risks for ABS lenders

Sherrod Brown Democrat Senate
UNITED STATES - JANUARY 23: Sen. Sherrod Brown, D-Ohio, speaks during the Senate Democrats press conference following the Senate Democrats' policy lunch in the Capitol on Tuesday, Jan. 23, 2018. (Photo By Bill Clark/CQ Roll Call) | CQ-Roll Call/SIPA USA/PA Images

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.

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