Sen.-elect Elizabeth Warren (D-Mass.) ran her campaign on the promise to hold big banks accountable and to stick up for the middle class even if it meant clashing with Wall Street.

In spite of spending at least $3 million against her, the banks will likely have to answer to Warren.

The Huffington Post first reported that Warren — who raised $39 million, the most of any Senate candidate — will get a seat on the Senate Banking Committee, giving her the ability to influence banking regulations.

The securities and investments industry contributed just $245,000 to Warren and spent $3 million supporting her opponent Scott Brown, according to OpenSecrets data from mid-October. The industry was Brown’s top supporter.

The Financial/Insurance/Real Estate sector followed suit and contributed $6 million to Brown and a puny half-a-million to Warren. Businesses also favored Brown heavily, and his top contributors came straight from Wall Street. And though there wasn’t much outside spending in the race because of a pledge made by the two candidates, the U.S. Chamber of Commerce, whose members include business and financial interests, spent $400,000 on the race in support of Brown and against Warren.

Retired people and lawyers and law firms contributed the most to Warren, followed by people connected with groups focusing on women’s issues and those working for Democratic or liberal groups.

Heavy opposition from Wall Street was more successful in keeping Warren from power in 2011, when the Consumer Financial Protection Bureau set up shop.

The agency was Warren’s brainchild and has jurisdiction over banks, credit unions, security firms, lenders, mortgage-service operations and other financial institutions. The former Harvard professor oversaw the planning of the agency, which was meant to address abuses of consumers by players in the financial world, but the president did not nominate her to head the bureau, fearing she could never overcome Republican (and financial sector) opposition.

Warren’s appointment to the Banking Committee has not yet been formally announced.



Images: Elizabeth Warren via flickr user David_Shankbone; Wall St. sign via flickr user Matthew Knott.



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