While Harris has had a low profile when it comes to the administration's financial policies, her track record taking on Wall Street banks and voting against deregulation suggests she would continue with Biden's ambitious agenda, said analysts.
The Biden administration agenda has included both adopted and proposed rules cracking down on bank fees, non-bank lenders, requiring more transparency from hedge funds, and enforcement actions against major cryptocurrency firms.
Isaac Boltansky, director of policy research at brokerage BTIG, noted that Harris is farther to the left than Biden, but there shouldn't be much difference in the financial regulations between a second Biden administration and a first Harris administration.
TD Cowen analyst Jaret Seiberg highlighted the potential increased risk for financials and crypto under a Harris-led administration, mentioning finalizing Basel capital rules, requiring banks to hold more long-term debt, and advancing limits on overdraft and other fees.
#financial-regulation #democratic-administration #wall-street-banks #cryptocurrency #progressive-agenda
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