One caveat about Waters is that it’s ultimately the House’s incoming Democratic leaders who will decide the next committee heads. If Representative Nancy Pelosi isn’t elected speaker then the odds increase that someone other than Waters will take the reins of the financial services panel.

Here’s a look at the financial issues Congress may focus on with Democrats in control of the House and Republicans keeping their majority in the Senate:

Investigations

Wells Fargo tops the list. California’s Waters and other Democrats say they want the bank’s top management, including Chief Executive Officer Tim Sloan, fired in the wake of multiple scandals that started with the revelation that bank employees opened millions of accounts without customers’ consent. Hearings and subpoenas for additional documents are likely.

Equifax is another target of Democrats. Both moderates and progressives agree that the company’s response to a 2017 data breach that resulted in the theft of millions of consumers’ personal information is worthy of more hearings. Lawmakers will likely propose legislation that would impose tough rules on credit-reporting companies, which could have consequences for Equifax competitors TransUnion and Experian Plc. Such a bill could also impact banks that rely on Equifax’s data to issue mortgages and credit cards.

Trump’s Finances

Waters has repeatedly called for Trump’s impeachment, and would likely use her subpoena power as financial services chair to try to ferret out any financial ties he has to Russia. A focus might be Deutsche Bank AG, which has drawn scrutiny over loans it made to Trump before he became president and the bank’s role in helping wealthy Russians illicitly move billions of dollars out of the country.

Housing Overhaul

Waters has said that dealing with Fannie and Freddie, which have been under government control for more than a decade, would top her list of legislative priorities. She hasn’t provided specifics on what she might try to do with the companies, which enable banks to issue more mortgages by buying loans from lenders and packaging the debt into bonds. Waters has criticized Republicans for pushing proposals that would limit the government’s role in the housing market. She’s also focused a lot of energy on making homes more affordable for low-income buyers, including minority borrowers.

Overhauling Fannie and Freddie has proved a tall order, with multiple lawmaker attempts ending in failure. If policy makers do make another push, the Senate might take the lead and the Trump administration would be expected to play a major role.