How Will The Election Impact The Banking Industry?

How Will The Election Impact The Banking Industry?

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

It’s a precarious time for banks around the world.  

In the U.S., financial stocks have grossly underperformed the overall market, as the COVID-19 pandemic has created concerns about increased loan loss provisions and near-zero interest rates. Even community banks, which found some success with the Paycheck Protection Program, haven’t been able to outrun this sentiment.

In Mexico, regulators are temporarily rolling back bank regulations in an attempt to help the economy. Meanwhile, Europe’s largest banks sold off earlier in the week after document leaks showed years of suspicious activity. 

And on top of all that, there’s also the uncertainty of the upcoming election, which could itself have long-term implications for the industry. Muddying the picture is the idea from some experts that a Trump win and Biden win would each have positives and negatives for banks. 

“Neither outcome is a clear win or a clear loss for the banking industry or the market as a whole,” said Ed Mills, managing director, Washington policy with Raymond James. “You have to look at the more nuanced outcomes of the elections.”

Those nuances, he said, include how individual banks would react to fiscal stimulus versus changes to tax policy and regulations, how a change to the PPP program would help small businesses, and a potential re-escalation of trade tensions with China.

“With the reelection of President Trump, he will have the ability to keep his regulatory team in place and we probably see a cementing of the deregulatory push that has occurred over the last four years. If Joe Biden is elected, you will see changes at the OCC, the CFPB, likely at FHFA, and sooner rather than later atop the Federal Reserve and the FDIC, all of whom have a lot of power in determining the future of bank regulations, which can have a direct line to business activity and profitability.”

However, Mills added that each candidate comes with significant potential tradeoffs. 

“From a macro perspective, a Biden administration is far more likely to produce continued fiscal support for the economy. And so from an economic perspective, you can have a strong argument that continued fiscal stimulus under a Democratic sweep is more important to the financial services industry than potential changes to regulation and tax policy.”

Against this backdrop, 20 executives from 12 financial firms will offer insight into how they are navigating this terrain at the Financial Services Investor Conference on Thursday. The conference will open with a keynote presentation from Mills, who will offer more insight into what he is advising clients when it comes to how the election could impact the banking industry. 

Below is the schedule for the conference. Each presentation is followed by a virtual Q&A session with attendees and is available on demand.

To register for the free conference, click here.

Keynote Presentation: 2020 Election – Financial Services Outlook

Speaker: Ed Mills, Managing Director - Washington Policy with Raymond James Financial

10:00 AM ET Grupo Financiero Banorte, S.A.B. De C.V. GBOOY GFNORTEO XNOR
Speaker: Tomás Lozano Derbez, Head of Investor Relations, Financial Intelligence and M&A.

10:30 AM ET SWK Holdings, Inc SWKH
Speaker: Winston Black, Chairman & CEO

11:00 AM ET Bank of Idaho Holding Co. BOID
Speaker: Jeff Newgard, President & CEO

11:30 AM ET UC Asset LP UCASU
Speakers: Dr. Larry Wu, Founder; Greg Bankston, General Partner; Christal Jordan, Investor Relations Director

12:00 PM ET Victory Bancorp Inc. VTYB
Speakers: Joe Major, Bank Leader

12:30 PM ET First Home Bancorp, Inc. FHBI
Speakers: Anthony N. Leo, Chief Executive Officer; Robin L. Oliver, EVP, Chief Financial Officer; Jeffrey M. Hunt​, SVP, Chief Strategy Officer, 

1:00 PM ET Communities First Financial Corporation CFST
Speakers: Steve Miller, President & CEO; Steve Canfield, EVP & CFO

1:30 PM ET BIGG Digital Assets Inc. BBKCF BIGG
Speaker: Mark Binns, CEO

2:00 PM ET Alpine Banks of Colorado ALPIB
Speaker: Tom Kenning, Chief Administration Officer; Eric Gardey, Chief Financial Officer

2:30 PM ET United Bancorporation of Alabama, Inc. UBAB
Speaker: Robert R. Jones III, President & CEO

3:00 PM ET Community Bancorp of Santa Maria CYSM
Speaker: Janet Silveria, President & CEO

3:30 PM ET Isabella Bank Corp. ISBA
Speakers: Jae A. Evans, CEO, Jerome Schwind, President, Neil McDonnell, Chief Financial Officer

To attend the Financial Services Investor Conference, click here.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Posted In: banksEd Millsfinancialsotc marketsVirtual Investor ConferencesGovernmentNewsPenny StocksRegulationsPoliticsEventsGlobalEconomicsFederal ReserveMarketsGeneral

11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.


Featured image sourced from Shutterstock

Posted In: Partner ContentGeneral