October 31, 2017 / 6:35 PM / 2 years ago

U.S. House banking chairman Hensarling will not seek re-election

WASHINGTON, Oct 31 (Reuters) - Representative Jeb Hensarling, the Republican chairman of the U.S. House of Representatives Financial Services Committee, announced on Tuesday that he will retire from Congress at the end of 2018.

Hensarling, of Texas, said in a statement he would not seek re-election, noting that his term as head of the banking panel expires at the same time. Hensarling has been a vocal proponent of significant deregulation in the financial sector.

“Today I am announcing that I will not seek reelection to the US Congress in 2018,” he said in a statement seen by Reuters. “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.” (Reporting by Pete Schroeder; Editing by Leslie Adler)

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