Former President Donald Trump has secured enough electoral votes to win the presidential election, according to race calls from major media organizations overnight. As he returns to office with a projected popular vote victory, Trump will also have a GOP Senate majority, flipping the chamber from Democratic control. However, too many House races were too close to call this morning to determine which party will control the lower chamber.
GOP challengers were projected to defeat Senate Banking Committee Chairman Sherrod Brown (D-Ohio), who was defeated by Bernie Moreno, and Sen. Jon Tester (D-Mont.), who was ousted by Tim Sheehy. Senate Banking Committee Ranking Member Tim Scott (R-S.C.) is in line to take over the committee’s chairmanship. Overall, the GOP is expected to have a minimum of 52 seats in the Senate, up from 49 in the current Congress. Results in six Senate seats remained uncalled as of this morning.
ABA President and CEO Rob Nichols congratulated President Trump and Vice President-elect JD Vance, as well as the Republican Senate majority, on their victories. “ABA and our member banks across the country look forward to working with the Trump-Vance administration and members of Congress in both parties to advance commonsense policies that support economic growth and allow banks to best serve their customers, clients and communities,” Nichols said.
ABA will host a free, members-only webinar to discuss the election results and their projected effects on banks Friday, Nov. 8, at 1 p.m. ET. The webinar will feature perspective from ABA President and CEO Rob Nichols, Chief Policy Officer Naomi Camper, EVP Jess Sharp, EVP Kirsten Sutton and Chief Communications Officer Peter Cook.
