Divided Congress = gridlock for financial services policy

Orszag noted that engaging solely with staff at the Department of Justice or Federal Trade Commission is no longer sufficient for complex deals.

Republicans still receive more money overall from bankers, but the gap is narrowing ahead of the November elections. Experts say that the trend corresponds with signs of a “blue wave” and that many in the industry prefer Democrats on nonregulatory issues.

Lawmakers waded into a growing debate about the threat posed by corporate credit risk.