With Presidential Race Called, ABA Releases 2020 Election Analysis

With major media outlets calling the 2020 presidential election for former Vice President Joe Biden and Sen. Kamala Harris over the weekend, ABA President and CEO Rob Nichols congratulated Biden and Harris. “We look forward to working with the new administration and the new Congress to address the nation’s challenges,” he said. “ABA and our member banks stand ready to work with the Biden administration and lawmakers from both parties to bolster the economy, increase opportunity and create a brighter future for all Americans.”

The ABA on Monday issued a 2020 election analysis prepared by its government relations and political engagement teams. The analysis covers what to expect from the Biden administration, as well as expectations for Congress, where control of the Senate will be determined by Jan. 5 runoff elections in Georgia. The ABA members-only analysis also covers results of ABA’s political engagement efforts during the campaign.

With Sen. Pat Toomey (R-Pa.) expected to chair the Senate Banking Committee should Republicans retain the Senate majority, the analysis covers potential policy areas the committee might work on, including housing finance reform. With Rep. Maxine Waters (R-Calif.) expected to remain chairwoman of the House Financial Services Committee, the analysis highlights areas where ABA has worked closely with committee Democrats, including anti-money laundering and Bank Secrecy Act reform and cannabis banking.

Meanwhile, a recording of ABA’s free bankers-only webinar on the election results is now available for viewing. Recorded last Friday and reflecting the election results as known at that time, the webinar featured insights from Nichols, ABA Chief Political Strategist Rob Engstrom, ABA Chief Policy Officer Naomi Camper and ABA EVP James Ballentine.

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