“WASHINGTON (Reuters) – Representative Jeb Hensarling, the Republican chairman of the U.S. House of Representatives Financial Services Committee, announced on Tuesday that he would retire from Congress at the end of 2018, marking the exit of Congress’s leading advocate for rolling back strict financial rules.
Hensarling, 60, of Texas, said in a statement that he would not seek re-election, noting that his term as head of the banking panel expires at the same time. He has been a vocal proponent of significant deregulation in the financial sector and an author of sweeping legislation to drastically reduce the regulations imposed on banks.” MORE
THINK / PROGRESS
In an interview with Reuters published on Wednesday, presumptive Republican presidential candidate Donald Trump said he will release an economic plan in two weeks that will undo nearly all of the financial reforms that went into effect in 2010.
“I would say it’ll be close to a dismantling of Dodd-Frank,” he said, naming the financial reform package. “Dodd-Frank is a very negative force, which has developed a very bad name.” MORE