NEW YORK — Come January, the banking industry is going to be on Rep. Maxine Waters' time.
With Democrats taking control of the House of Representatives, the California Democrat is expected to become chairwoman of the powerful House Financial Services Committee, which oversees the nation's banking system and its regulators.
Waters is no friend to the nation's biggest banks and Wall Street, and has been a vocal critic of President Trump and his administration. She has called for more regulation of banks, and has opposed Trump's political appointees moving to roll back regulations on banks and other financial services companies.
With a Republican-controlled Senate and Trump in the White House, it is unlikely Waters' proposed regulations on banks will make it into law. However, it's also much less likely that any new deregulatory bills get through, either.
Where Waters will likely have the most power will be in her subpoena and investigatory powers that come as head of the committee.