WASHINGTON (11/29/12)--Rep. Jeb Hensarling (R-Texas) will serve as House Financial Services Committee chairman when the 113th U.S. Congress convenes next year.
Hensarling was nominated by the House Republican Steering Committee on Tuesday, and that nomination was approved by the House Republican Conference on Wednesday. He will replace outgoing House Financial Services Committee Chairman Rep. Spencer Bachus (R-Ala.), who must move on from the financial services leadership position due to term limits.
In a release, Hensarling thanked Bachus "for his outstanding service on this committee over the last six years," calling the legislator "a tireless proponent of free enterprise and free markets."
The five-term Texas legislator added that he is grateful for the opportunity to lead the financial services committee, and looks forward to working alongside his colleagues "to foster the deepest, most liquid, competitive, efficient, innovative, and transparent capital markets the world has ever known."
Addressing "too big to fail" and regulatory burdens will be two priorities for the committee, Hensarling said.