U.S. fintech stocks may benefit from a shift in political focus as the November 2026 midterm elections approach. Citigroup analysts highlight President Trump's renewed emphasis on affordability, suggesting it could favor fintech companies over traditional banks. This realignment could help firms like Affirm, Klarna, SoFi, and Block gain traction, especially those offering consumer-friendly credit and small-business services. Citigroup also identified restaurant tech platform Toast and e-commerce giant Shopify as potential beneficiaries of this trend. The political climate changed after Trump regained the presidency in 2025, sparking a rally among traditional lenders who anticipated less regulatory oversight. However, his recent calls for consumer protections, such as capping credit card interest rates at 10%, signal a possible pivot towards supporting fintech alternatives. SoFi saw a 70% increase in stock value, and Affirm rose over 22% from 2025 to early 2026, while Block's stock fell more than 23%, reflecting concerns about competition and growth in the payments sector. Citigroup emphasizes that as populism rises, fintech companies that offer lower-cost, user-friendly services could thrive. Trump's initiative to limit competition from institutional investors in the housing market aligns with this affordability agenda. Analysts believe this focus on making financial services more accessible for consumers and small businesses could reshape the competitive landscape in favor of fintech firms.