Practice

Big changes to regulations and retirement planning could be in the mix following the Democrat’s election victory.

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four years could gain traction.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

It’s at least the second time in just a few weeks that the firm has sought to limit the expense of rewarding well-paid employees.

Regardless of who wins the White House, the scope for tax legislation in the near term will be limited.

“Their top holdings are focused on those companies that have benefited in a post-COVID world,” an expert says.

The private equity-backed firm’s bottom line has been less affected by coronavirus-related low interest rates than its rivals, Moody’s says.

It's helpful to recognize that there are both policy implications and behavioral implications of elections, and that these have completely distinct market consequences.

With vast numbers of clients working outside the office, practitioners are advising care.

The uncertainty could lead to market volatility, delayed stimulus negotiations and complicate planning for a potentially new regulatory environment.