Wall Street Push Against New Rules Gets Boost From GOP House Win

Republican control of the US House of Representatives will help advance financial-services firms’ priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular US consumer watchdog.

Next year, the GOP will lead the powerful Financial Services Committee, which can demand information from the heads of agencies such as the Securities and Exchange Commission and the Consumer Financial Protection Bureau and seek to dial up oversight of the regulators. At minimum, the House’s shift from Democratic leadership could force agency staff to spend hundreds of hours responding to lawmakers’ ...