Banking Committee Members in Tough Battles; Banks Fear Democratic Win in Congress but See Consensus on Wider Powers

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The presidential contest may be all but over, but the race to control Congress is going down to the wire.

About a dozen of the 34 Senate races and more than 70 House races are still in question as Campaign 1996 enters its final week.

A host of House Banking Committee members face tough battles for the Nov. 5 ballot. The Senate banking panel, on the other hand, has only two members up for reelection. But one race, by two-term Democrat John Kerry of Massachusetts, is among the country's hottest.

Sen. Kerry, locked in a dead heat with Gov. William Weld, must retain his seat if the Democrats are to regain control of the Senate.

Gov. Weld is considered a moderate because he supports abortion rights, but the two have argued over the death penalty and cutting taxes. The candidates have resorted to personal attacks since the Boston Globe reported Oct. 18 that Sen. Kerry received free housing from two developers and a key lobbyist in the 1980s. The Democratic incumbent retaliated by criticizing Gov. Weld for accepting a free stay at a hunting lodge from a developer vying for a state construction job.

Bank and thrift lobbyist Richard F. Hohlt said the newspaper's revelations could sway the election against Sen. Kerry. "The Globe, which is one of …