Wall Street favorite Luetkemeyer could claim top House finance spot

Blaine Luetkemeyer | Photo courtesy of congress.gov

If the GOP retain control of the House of Representatives in next week’s elections, a Missouri Republican viewed as an ally of Wall Street could take over one of Capitol Hill’s most prominent financial policy roles, Reuters reports.

Rep. Blaine Luetkemeyer, R-St. Elizabeth, is viewed as a top Republican candidate to lead the House Financial Services Committee.

He has developed a reputation as a friend of bankers, who view him as responsive to their concerns about regulation.

The Missouri Republican, who has held office since 2009, has been Congress’ top recipient of bank contributions this year, drawing more than $300,000, according to the Center for Responsive Politics.

However, his ascent to the committee’s top spot is contingent upon Republicans maintaining control of the House. Polling favors Democrats to win control of the chamber, which would make Wall Street critic Maxine Waters the likely choice to lead the House Financial Services Committee.

Either way, Luetkemeyer’s influence on the GOP side of the committee will grow, as current chairman Jeb Hensarling, also a Republican, is retiring at year’s end.

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