Rep. Jeb Hensarling, staunch opponent of financial regulations, says he will retire

[Shard Shinjuku]

https://www.washingtonpost.com/news...of-financial-regulations-says-he-will-retire/

Rep. Jeb Hensarling, a Texas Republican who led conservative opposition to the Troubled Asset Relief Program and has been among Congress's fiercest foes of federal regulations, said Tuesday he will retire after his term ends.

Hensarling is set to leave the House as his term as chairman of the Financial Services Committee expires. In his six years in that post, he has pushed numerous conservative bills to pull back the federal role in overseeing the financial sector, including a bill that passed the House earlier this year repealing major parts of the Dodd-Frank law passed after the financial crisis of 2008.

"Although service in Congress remains the greatest privilege of my life, I never intended to make it a lifetime commitment, and I have already stayed far longer than I had originally planned," he said in a statement. Noting the loss of his committee gavel, he said that "the time seems right for my departure."

Hensarling has seen several of his legislative priorities frustrated by the Senate or by the wishes of more-moderate Republicans. The Dodd-Frank repeal bill, known as the Financial Choice Act, has not gotten Senate consideration. He has been unable to unravel the powers of the Consumer Financial Protection Bureau, an agency he has strongly opposed. And a bill he supported this year to reconfigure the National Flood Insurance Program was placed on the back burner after the devastation of Hurricane Harvey.

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[Deleted member 11157]

Good riddance. He would have stayed if the boogeyman Clinton was there is my guess.

"He has been unable to unravel the powers of the Consumer Financial Protection Bureau, an agency he has strongly opposed. And a bill he supported this year to reconfigure the National Flood Insurance Program was placed on the back burner after the devastation of Hurricane Harvey."

Good riddance once again.

 

[Invisible Cities]

Imagine being against flood insurance.

 

[Beartruck]

A lotta people fleeing the republican party all of the sudden. What a coincidence.

 

[andymcc]

Imagine being against flood insurance.

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to be fair, the government gets FLEECED by the insurance companies wrt insurance payouts when it comes to floods.

watch the newest John Oliver segment on it. kind of shocking.

 

[Shard Shinjuku]

A lotta people fleeing the republican party all of the sudden. What a coincidence.

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This guy can flee and never return.

 

[Strike]

A lotta people fleeing the republican party all of the sudden. What a coincidence.

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Not fast enough.

 

[Deleted member 1476]

.

 

[Lo-Volt]

His seat is very solidly Republican, so this isn't a pickup opportunity for the Democrats. And the narrative building is his cycling out of that committee chairmanship is part of the decision making process more than fear or frustration over the state of Congress. Regardless, won't miss him if he's so unwilling to support financial or insurance regulations to help people who aren't in his tax bracket.

 

[MonoStable]

This guys used to shill for sub prime mortgages because they took business away from Fannie Mae and Freddie mac, which he considered left leaning institutions. When that blew up he wanted to get rid of the twins and give away the mortgage industry to the very banks that caused the financial collapse to begin with, good riddance.

 

[Linkura]

Being for/against the CFPB is a pretty good litmus test for a politician.