banking analyst dick bove of odeon capital said in a research note friday that this weeks capitol hill hearings between bank ceos and members of congress revealed more topics of interest from democrats than republicans as might be expected the democrats had meaningful differences in interest from the republicans bove said democrat issues with banks include excessive profits a lack of sensitivity to the needs of the underbanked and lowincome households overdraft fees mortgage underwriting and affordable housing reimbursement for fraud in zelle payments programs for banks in low income communities and climate control republican issues include overregulation by banks and under regulation of nonbanks banks overburdened by regulations to the extent that they cannot perform functions capital requirements forcing banks to reduce lending in bad times banks intimidated by the woke movement that fail to make required loans for oil and gas development and opposition to plans by credit card companies to add a code to identify purchases at gun retailers financial select sector spdr etf xlf is down 192 in 2022 compared to a drop of 212 by the sp 500 spx 