Banks Brace For Tighter Oversight

Wall Street banks are preparing for increased scrutiny after Democrats won control of the US Congress. Lenders expect investigations into consumer fees and potential congressional hearings for bank chief executives.

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FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly/File Photo

Wall Street banks are preparing for tighter congressional scrutiny after Democrats won control of the United States Congress. Executives and analysts expect lawmakers to launch investigations into cost-of-living issues and summon bank executives to testify.