WASHINGTON—With election day this week it appears the financial services industries are betting on Democrats to win control of the House. Banks, as well as
companies in the securities and investment industries, have been giving more money to Democratic candidates, especially those considered moderates.
Democrats would need to win 23 additional seats in tomorrow’s faces to take majority control of the House, and some forecasters have said they could win as many as 43.
Citing data from the Center for Responsive Politics, an analysis by Bloomberg shows the securities and investment industries have given $56.8 million to Democratic congressional candidates and $33.4 million to Republicans this election cycle. The same data show bankers – who most often prefer Republicans – are also giving a helping hand to Democrats, donating $8.5 million to Democratic candidates, but less than the $13.5 million donated to Republicans.
“More moderate Democrats, such as those that helped create and pass S. 2155, are garnering more support as the financial services industry hopes regulatory relief efforts will continue in 2019,” noted NAFCU in its analysis.
Unlike the House, polling projections have the Senate remaining in the Republican majority. Senate Democrats have 26 seats up for reelection, while just nine Republican seats are being contested.