Donald Trump’s presidential transition team is reportedly considering House Financial Services Committee Chairman Jeb Hensarling for the post of treasury secretary, putting a fiscal conservative and top critic of financial regulation into the mix.
Hensarling is just one of the names under consideration, according to a Wall Street Journal report citing unnamed sources.
The Texas Republican is the author of sweeping legislation to replace President Obama’s 2010 financial reform law, a bill that would eliminate many of the new regulations while requiring banks to maintain higher capital levels.
Hensarling also has been a top critic of the government-sponsored enterprises Fannie Mae and Freddie Mac, and generally opposes bailouts and subsidies for businesses, a stance that at times has brought him into conflict with industries and GOP leadership.
A number of names have been floated for the job of treasury secretary, a role that has even greater responsibility over financial markets following the implementation of the Dodd-Frank reform law.
Among them are Steven Mnuchin, the ex-Goldman Sachs banker who served as Trump’s campaign finance chair, and Jamie Dimon, the CEO of JPMorgan Chase.
Hensarling met with Trump at Trump Tower in June to discuss Hensarling’s legislation. At the time, Trump indicated a willingness to peel back Dodd-Frank, but did not commit to backing Hensarling’s bill.
