Republicans maintained control of Capitol Hill on Tuesday, with several credit union supporters winning, but comprehensive legislation to overhaul the financial regulatory process still is likely to face significant problems.
"Even with control of both chambers and the White House, Republicans will have a difficult time getting reluctant Senate Democrats to go along with a total repeal, but the realm of the possible on regulatory burden [and] Dodd-Frank just got a lot bigger," said John McKechnie, senior partner with Total Spectrum and former CUNA director of political affairs.
Republicans maintained control of the Senate, but will not have the 60 votes needed to enact much legislation and many nominations. Those 60 votes are needed because opponents of legislation and nominations routinely threaten filibusters. That requires a 60-vote majority to pass legislation.
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