The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee.
It was not a surprise that Hatch, an 83-year-old Utah Republican who chairs the Senate Finance Committee, decided to leave after more than 40 years in the Senate. But his departure will leave an opening to oversee one of the Senate's most coveted panels.
Senate Banking Committee Chairman Mike Crapo, R-Idaho, is third in seniority among Republicans on the Finance Committee. He may want to trade up to what is viewed as a more prominent chairmanship, leaving an opening atop the banking panel. That could in turn affect the committee's agenda on everything from reforming the government-sponsored enterprises to regulatory reform.
Read more in American Banker.