Waters to Bring Scrutiny of Banks, Trump to Financial Services (1)

Big banks—and possibly President Donald Trump’s lenders—can expect more oversight should Rep. Maxine Waters (D-Calif.), as expected, take the helm of the House Financial Services Committee.

Committee Democrats may also use their subpoena power to investigate Wells Fargo & Co. and Deutsche Bank AG.

A Republican-controlled Senate means Waters’ legislative priorities—such as making it easier to break up big banks with a history of consumer abuse or reinvigorating the Consumer Financial Protection Bureau—stand little chance of enactment.

What the soon-to-be 14-term liberal lawmaker and vocal Trump critic would have is a more powerful megaphone and the investigative powers that ...