The elevation of Elizabeth Warren as the top Democrat on a key Senate panel might be a case — for bank CEOs at least — of being careful what you wish for.

Banks are cheering Republican control of the White House and Senate, since the GOP is expected to usher in a more friendly environment for Wall Street.

But some post-election shifts mean that one of Washington's most prominent critics of banks will now be leading Democratic efforts on the Senate Banking, Housing, and Urban committee.

Warren confirmed the news in a statement Wednesday, saying in part "this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams."

Warren is a high-profile former Presidential candidate who has long been a vocal critic of bank CEOs on issues from climate change to banking fees to CEO pay.

She will now be the first Democratic questioner on the committee that has been the scene of closely watched hearings in recent years, with top CEOs like JPMorgan Chase's (JPM) Jamie Dimon and Bank of America’s (BAC) Brian Moynihan forced to answer questions from lawmakers on a range of topics.

The overall bright spot for banks is that come 2025, the first question they will face is set to be from a Republican much friendlier to their interests.

The current GOP ranking member on that committee is Sen. Tim Scott. The South Carolinian has tended to be much friendlier to bank concerns, especially around banking regulations.

And the committee is expected to have a close eye on banking policy, with Donald Trump back in the White House.

One top concern over the last year has been the proposed Basel III endgame requirements that would increase the requirements for banks to set aside more capital to absorb future losses.

Scott has often criticized the proposal, including leading a call for the Biden administration to withdraw it entirely.

Warren’s ascension comes after Sen. Sherrod Brown lost his seat last week and Democrats lost control of the upper chamber. GOP challenger Bernie Moreno defeated Brown in Ohio and is set to be sworn in to take his seat.

Another top Banking committee Democrat, Sen. Jon Tester of Montana, also lost his seat and other senior Democrats like Sens. Jack Reed and Mark Warner are expected to focus on other committees in the years ahead.

“I’ve spent my entire career fighting to make our economy work better for middle-class families – not just for the wealthy and well-connected,” Warren added in Wednesday’s statement