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Thomas Jeb Hensarling (born May 29, 1957) is an American politician who served as the U.S. representative for Texas's 5th congressional district from 2003 to 2019. A member of the Republican Party, he chaired the House Republican Conference from 2011 to 2013 and House Financial Services Committee from 2013 until 2019. The Los Angeles Times described Hensarling, "a fervent believer in free market ideology" and that he was "a pivotal player in the GOP effort to reduce financial regulation in the Trump Era".[1] The Wall Street Journal called him "a driver of economic policy in the house".[2] Hensarling has close ties to Wall Street, having received campaign donations from every major Wall Street bank as well as various payday lenders.[3][4]

Key Information

On October 31, 2017, Hensarling announced that he would not seek reelection in 2018.[5] In 2019, he revealed he was joining UBS Group AG as executive vice chairman for the Americas region.[6] In 2023, he stepped down from that position.

Early life

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Hensarling was born in Stephenville, the seat of government of Erath County in Central Texas; he was reared on the family farm in College Station. Jeb Hensarling has one brother, James Andrew Hensarling (born 1954) now deceased, and a sister, Carolyn Hensarling Arizpe.[7] He is an Episcopalian.[8]

Like his late father,[9] Jeb Hensarling graduated from Texas A&M University; he received a bachelor's degree in economics in 1979.[10] In 1982, he earned a Juris Doctor degree from the University of Texas School of Law at Austin.[11]

Political career

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Prior to serving in Congress, Hensarling was State Director for Texas Senator Phil Gramm from 1985 until 1989. He also managed Gramm's re-election campaign in 1990.[12] From 1991 to 1993, he served as executive director of the Republican Senatorial Committee.[13]

Hensarling next served as a vice president at two companies before becoming owner of San Jacinto Ventures in 1996[14] and CEO of Family Support Assurance Corporation in 2001.[citation needed] He served as vice president of Green Mountain Energy from 1999 to 2001.[12]

Hensarling was elected to his first term in 2002, defeating Democratic opponent Ron Chapman with 58 percent of the vote.[15] He was reelected in 2004 with 64 percent of the vote over Democratic challenger Bill Bernstein.[16] In 2006, he was reelected with 62% of the votes over Charlie Thompson (D) with 36%,[17] and in 2008 with 84% against Ken Ashby (L) with 16%.[18] In 2010, Hensarling was reelected with 71% of the votes,[19] in 2012 with 64%[20] and in 2014 with 85%.[21] In 2016 Hensarling gained a total of 80% of the votes and defeated Ken Ashby, who had received 20% of the votes.[22]

A December 31, 2005, article in National Review profiled his work as the country's "budget nanny", saying that he replaced his mentor, former Senator Phil Gramm, in this role. Hensarling's proposed legislation was said to be intended to force Congress to "decide how much money they can afford to spend, and then prioritize within those limits." The article said that "the chief problem with any proposal to reform the budget process is that it excites almost nobody."[23]

Hensarling was elected chairman of the Republican Study Committee[24] following the 2006 congressional elections, defeating Todd Tiahrt.[25]

From 2011 to 2013, Hensarling was chairman of the House Republican Conference.[26] He served on the Congressional Oversight Panel of the Troubled Asset Relief Program, the National Commission on Fiscal Responsibility and Reform. Hensarling was also co-chair of the Joint Select Committee on Deficit Reduction.[27]

After the 2012 election, Hensarling was elected as chairman of the House Committee on Financial Services, succeeding Rep. Spencer Bachus (R-Ala.).[28][29]

After the election of Donald Trump as president, Hensarling met with him in Trump Tower and was considered for Secretary of the Treasury.[30] Eventually, Steven Mnuchin was given the position. Later Hensarling became one of the earliest and most vocal critics of the Trump administration's trade policies.[31]

Legislation

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Congressman Hensarling and then Senator Barack Obama looked on President George W. Bush signs into law the Federal Funding Accountability and Transparency Act of 2006

Hensarling shepherded over 80 bills into law during his three terms as chairmen. These included the Economic Growth Regulatory Relief and Consumer Protection Act which rewrote numerous provisions of the Dodd-Frank Act and the bipartisan JOBS 2.0 legislation which facilitated capital formation for start ups and early growth companies. His committee also passed the Foreign Investment Risk Review Modernization Act of 2018 which provided major reforms to the Committee on Foreign Investment in the United States (CIFIUS), the government agency responsible for reviewing pending foreign investment for national security implications.

Hensarling opposed the Homeowner Flood Insurance Affordability Act of 2013 (H.R. 3370; 113th Congress), a bill that would delay some of the reforms to the National Flood Insurance Program.[32] Hensarling criticized the bill, saying the bill would "postpone actuarially sound rates for perhaps a generation ... (and) kill off a key element of risk-based pricing permanently, which is necessary if we are to ever transition to market competition."[32] Hensarling criticized the National Flood Insurance Programs for regularly underestimating flood risk.[32] Hensarling is an opponent of the Dodd–Frank Wall Street Reform and Consumer Protection Act.[3]

Committee assignments

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Voting record

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Congressman Jeb Hensarling speaking at the 2015 Reagan Dinner for the Dallas County Republican Party

During his Congressional tenure, Hensarling maintained a conservative voting record as evidenced by his 97% lifetime rating from the American Conservative Union.

Hensarling served on the House Committee on the Budget and chaired the House Committee on Financial Services.[33] Hensarling was co-author of a constitutional amendment (known as the Spending Limit Amendment) that would prohibit federal spending from growing faster than the economy.[34] Hensarling campaigned for Congress to enact a one-year moratorium on all Congressional earmarks, saying that the process needs to be overhauled.[citation needed] In 2007, he introduced the Taxpayer Bill of Rights. He also co-authored the Taxpayer Choice Act.[citation needed]

A vocal critic of the Consumer Financial Protection Bureau (CFPB), he received $210,500 from the payday lending industry (directly and through his political action committee) during the 2013-2014 election cycle, according to a report from the nonprofit Americans for Financial Reform.[35][36][37]

2008

[edit]

In January 2008, Hensarling was co-author of the Economic Growth Act of 2008.[citation needed]

In May 2008, Hensarling campaigned for the Republican party leadership in the House to agree to a special session to give lawmakers to air their views on a new policy platform and share ideas on how to define themselves to better advantage going into the 2008 election. [citation needed]

2010

[edit]

On January 29, 2010, during President Barack Obama's meeting with House Republicans, Hensarling challenged Obama's position on the budget, asserting that the Obama White House was increasing the national deficit at the same rate per month that the previous President had increased it per year. President Obama responded with the following: "the whole question was structured as a talking point for running a campaign. ... [t]he fact of the matter is that when we came into office, the deficit was $1.3 trillion. So when you say that suddenly I've got a monthly budget that is higher than the annual – or a monthly deficit that's higher than the annual deficit left by Republicans, that's factually just not true, and you know it's not true."[38] The Congressional Budget Office issued a projection in January 2009, before Obama took office, that the budget deficit would reach $1.2 trillion that year.[39]

Financial bailout

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In September 2008, Hensarling led House Republican efforts to oppose Secretary Henry Paulson and Chairman Ben Bernanke's $700 billion financial bailout, and urged caution before Congress rushed to approve the plan. After voting against the bill, Hensarling said,

no one truly knows if this plan will work – though we all hope that it does. No one knows the true amount of taxpayer exposure. Treasury could spend $700 billion in no time flat and come right back to Congress for $700 billion more. Some believe the taxpayer will actually make money in the deal and I hope that proves true. But history as a guide, I have strong fears it will not. At what point do we finally bailout the American taxpayer from the unconscionable burden he or she faces from out of control Washington spending? I fear that the legislation passed by Congress remains more of a bailout than a work out. I fear it undermines the ethic of personal responsibility. I fear that it rewards bad behavior and punishes good. But my greatest fear is that it changes the role of the federal government in our free market economy, which despite its current problems, remains the envy of the world. How can we have capitalism on the way up and socialism on the way down? If we lose our ability to fail will we not in turn lose our ability to succeed? If Congress bails out some firms and sectors, how can it say no to others? We must always be very careful to ensure that any remedy does allow short-term gain to come at the cost of even greater long-term pain – that being the slippery slope to socialism. The thought of my children growing up in America with less freedom and less opportunity is a long-term pain I cannot bear.[citation needed]

Following September 29 House vote, the Dow Jones Industrial Average dropped 777 points in a single day, its largest single-day point drop ever.[40] The House subsequently passed the bill in a second vote on October 3.[41]

On November 19, 2008, Hensarling was appointed by United States House of Representatives Minority Leader John Boehner to serve on the five-member Congressional Oversight Panel created to oversee the implementation of the Emergency Economic Stabilization Act. He was the lone dissenting member on the "Accountability for the Troubled Asset Relief Program" report issued by the panel on January 9, 2009.[42][43]

House leadership

[edit]

In 2008, Hensarling was mentioned[by whom?] as a possible candidate for Republican Conference Chairman, then the number three position in the House Republican leadership. However, Hensarling instead endorsed former Republican Study Committee Chairman Mike Pence, a longtime friend and ally.[44] After the 2010 elections, Pence stepped down from the House to run for Governor of Indiana. Hensarling succeeded Pence as Conference Chairman, becoming the fourth-ranking Republican, as the Republican Party had won control of the House of Representatives in 2010. Hensarling stepped down from leadership after the 2012 elections to become Chairman of the House Financial Services Committee.[45][46]

Prior to Eric Cantor's primary defeat, Hensarling was mentioned as a potential rival to Cantor to succeed John Boehner as leader of the House Republicans.[47][48]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Jeb Hensarling

View on Grokipedia
from Grokipedia
Thomas Jeb Hensarling (born May 29, 1957) is an American former politician and financial services executive who represented Texas's 5th congressional district as a Republican in the United States House of Representatives from 2003 to 2019. A fiscal conservative raised on a family farm in Texas, Hensarling earned a B.A. from Texas A&M University in 1979 and a J.D. from the University of Texas School of Law in 1982 before entering public service. During his congressional tenure, Hensarling emerged as a leading voice for and free-market principles, serving three terms as chairman of the House Committee on Financial Services from 2013 to 2019. In that role, he prioritized reducing regulatory burdens on financial institutions, spearheading legislative pushes to reform or repeal elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which he criticized for stifling economic growth, and to restructure the , arguing it wielded unaccountable power. His efforts reflected a commitment to fiscal discipline, including opposition to expansive federal interventions post-2008 , though they drew pushback from proponents of stricter oversight who viewed his deregulation agenda as risking systemic vulnerabilities. Following his retirement from Congress, Hensarling transitioned to the private sector, serving as Managing Director and Executive Vice Chairman at Americas and joining the board of directors of .

Early life and education

Family and upbringing

Thomas Jeb Hensarling was born on May 29, 1957, in Stephenville, the county seat of Erath County in central Texas. He grew up on his family's poultry farm near College Station, Texas, assisting with operations on the property owned by his father, who served as president of the Texas Poultry Federation. Hensarling achieved the rank of Eagle Scout at age 14, reflecting early involvement in Scouting activities amid his rural upbringing.

Academic background

Hensarling earned a Bachelor of Arts degree in economics from Texas A&M University in College Station, Texas, graduating in 1979. He then attended the University of Texas School of Law in Austin, receiving his Juris Doctor degree in 1982. No public records indicate additional advanced degrees, postgraduate studies, or notable academic honors during his university years.

Pre-congressional career

Legislative and advisory roles

Prior to entering elected office, Hensarling held advisory positions in Republican politics. From 1985 to 1989, he served as state director for U.S. Senator Phil Gramm (R-TX), managing operations and constituent services across Texas. He also managed Gramm's reelection campaign during this period, contributing to the senator's successful retention of the seat amid competitive races. In 1991, Hensarling was appointed policy director for the Texas Senate Republican Caucus, where he advised on legislative strategy and priorities for the minority Republican delegation in the state senate. This role involved coordinating policy development and caucus operations until 1993, bridging his federal advisory experience with state-level engagement. These positions honed his focus on fiscal conservatism and limited government, themes that characterized his later service.

Business experience

Following his graduation from the University of Texas School of Law in 1982, Hensarling practiced corporate and law for several years with a major law firm. From 1993 to 1996, he served as vice president of , a founded by businessman , where he led marketing and initiatives aimed at raising capital from institutional investors. From 1999 to 2001, Hensarling held the position of vice president of communications at Green Mountain Energy Company, a pioneering retailer of sources in the United States. These roles reflected his involvement in both and the energy sector prior to his entry into the U.S. .

Texas state legislature

Elections and service

Hensarling was elected to the Texas House of Representatives on November 8, 1994, defeating the incumbent Democrat in District 98, which encompassed parts of Dallas County. He took office in January 1995 and represented the district through four terms, until January 2003. During his tenure, Hensarling won re-election in the general elections of 1996, 1998, and 2000, each time as a Republican in a district that shifted toward GOP dominance amid Texas's broader Republican gains in the 1990s. These victories reflected his alignment with conservative fiscal policies and limited government principles, appealing to suburban Dallas voters. He did not seek re-election to the state house in 2002, instead successfully campaigning for the U.S. House seat in Texas's 5th congressional district. In the Texas House, Hensarling served on committees addressing appropriations, , and financial institutions, contributing to Republican efforts to control state spending and promote business-friendly reforms during the 74th through 77th Legislatures (1995–2003). His state legislative experience emphasized budget restraint, influencing his later federal roles.

Legislative priorities

Hensarling, serving as a Republican in the Texas House from January 1995 to January 2003 for District 61 in Dallas County, emphasized amid a Democrat-majority chamber until Republican gains in the elections shifted dynamics toward GOP priorities like spending restraint. His work aligned with efforts to curb state expenditures and advocate for tax reductions, reflecting the era's conservative push against rising property taxes funding public education following the 1993 school finance overhaul. As an early supporter of the —a promoting , individual liberty, and free enterprise—Hensarling backed policies favoring market-oriented reforms over expanded state intervention. This foundation underpinned his opposition to unchecked budgeting, consistent with his later federal initiatives on deficit control, though specific state-level bills he authored remain less documented in from the period.

U.S. House of Representatives

Elections and representation

Hensarling was elected to the in the 2002 midterm elections, defeating Democratic nominee Ron Chapman 58% to 40% in , a suburban area encompassing parts of , Collin, Rockwall, and Kaufman counties. The seat had opened after incumbent Republican Steve Bartlett retired, and Hensarling prevailed in the Republican primary against several challengers, including Dan Hagood, before securing the general election victory on November 5, 2002. He assumed office on January 3, 2003, beginning his tenure representing a district characterized by its strong Republican leanings, with minimal Democratic presence in suburban and exurban communities east of . In subsequent reelection campaigns from 2004 to 2016, Hensarling consistently won by wide margins, averaging approximately 73% of the vote across seven races with no serious challenges. Notable results included 64% against Democrat Dennis Bernstein in 2004, 62% over Charlie Thompson in 2006, and 84% in 2008; later elections saw even larger victories, often facing token opposition or running unopposed in the general election. For instance, in 2016, he encountered no Republican primary opponent and secured reelection on November 8 without a Democratic challenger listed in official tallies, reflecting the district's reliability as a GOP stronghold where Donald Trump garnered 63% of the presidential vote that year. Hensarling announced on October 31, 2017, that he would not seek an eighth full term, citing the alignment of his departure with the end of his chairmanship of the House Financial Services Committee, and retired at the conclusion of the 115th on January 3, 2019. During his 16 years in office, he focused representation on conservative priorities tailored to the district's affluent, business-oriented electorate, including advocacy for financial deregulation and opposition to federal bailouts, though specific constituent service metrics like casework volume are not publicly detailed in aggregated federal reports. His unblemished electoral record underscored the district's partisan stability, with no competitive races after 2002.

Committee assignments and roles

Hensarling joined the at the start of the 108th Congress on January 3, 2003, and was assigned to the Committee on Financial Services, where he served continuously until his retirement at the end of the 115th Congress on January 3, 2019./) He was also assigned to the Committee on the Budget early in his tenure, rising to the position of second-ranking Republican member under Chairman before transitioning to other leadership roles in 2011. At the outset of the 113th Congress on January 3, 2013, Hensarling succeeded Spencer Bachus (R-AL) as Chairman of the Committee on Financial Services, a role he held for three consecutive terms through the 115th Congress ending in 2019. As chairman, he managed the committee's agenda on banking, housing, insurance, and securities issues, appointed Republican subcommittee chairmen—such as for Capital Markets and Investor Protection, and Terrorism and Illicit Finance—and designated leadership teams to coordinate legislative efforts. In this capacity, Hensarling served ex officio as a member of all subcommittees, influencing their oversight and markup processes. His chairmanship emphasized and regulatory reform, with the committee under his leadership advancing measures to restructure post-2008 financial oversight while maintaining jurisdiction over federal agencies like the and Securities and Exchange Commission. Hensarling announced the creation of a new Subcommittee on and Illicit Finance in January 2017 to examine financial networks supporting illicit activities. He retired from at the conclusion of his term as chairman, citing the alignment of his departure with the end of that leadership position.

Key policy positions

Financial regulation and bailouts

Hensarling opposed the (TARP), the $700 billion bank bailout enacted in October amid the , voting against the initial House version on October 3, , and leading Republican opposition to the measure. He argued that the bailout rewarded risky behavior, created by signaling government intervention for large institutions, and prioritized over recovery. Despite his vote, Hensarling was appointed to the Congressional Oversight Panel for TARP in , where he issued dissenting views, including a December 2009 statement criticizing the program for enabling bailouts that distorted markets and failed to deliver promised lending to small businesses. In June 2009, Hensarling introduced legislation to impose a firm end date on TARP, aiming to prevent extensions and force repayment of funds to taxpayers ahead of the program's original October expiration. He continued critiquing TARP extensions, calling a 2010 proposal a "big mistake" that perpetuated involvement in private lending and housing markets. Hensarling's stance extended to broader opposition against federal bailouts, including resistance to interventions for institutions deemed "," which he viewed as antithetical to free-market principles and likely to encourage excessive risk-taking by financial entities expecting taxpayer rescues. On financial regulation, Hensarling advocated for frameworks emphasizing market discipline over expansive government oversight, arguing that post-crisis rules like those under Dodd-Frank inadvertently entrenched "" dynamics by concentrating power in larger banks while burdening smaller institutions. He supported higher capital requirements and transparency to mitigate systemic risks without relying on s, positing that robust private capital buffers—rather than regulatory mandates or public funds—best prevent failures and protect taxpayers. In a 2016 , he emphasized delivering on the "no " promise through reforms that penalize misconduct via market mechanisms, not endless government guarantees.

Dodd-Frank reforms and CHOICE Act

Hensarling voted against the Dodd-Frank Wall Street Reform and Consumer Protection Act when it passed the House on July 15, 2010, by a 234-193 margin, joining most Republicans in opposition to what he viewed as excessive regulation that would stifle economic growth without addressing root causes of the . As ranking member and later chairman of the House Financial Services Committee, he consistently criticized the law for failing to shrink "" institutions—instead, the assets of the largest banks grew from 30% of U.S. GDP in 2010 to over 40% by 2016—while community banks declined, with over 1,800 fewer such institutions operating by 2016 compared to pre-Dodd-Frank levels. He argued that provisions like the restricted banks' ability to provide liquidity and credit, contributing to slower lending and higher compliance costs that disproportionately burdened smaller institutions, with regulatory expenses for community banks rising by an estimated 27% post-enactment. In response, Hensarling spearheaded reforms to overhaul Dodd-Frank, releasing a discussion draft of the Financial CHOICE Act on September 9, 2016, which proposed replacing the law with measures emphasizing market discipline, such as an "off-ramp" from enhanced prudential standards for banks maintaining high capital levels (at least 10% ) and stress test compliance. The full bill, H.R. 10, was introduced on April 26, 2017, as a 600-page package that sought to repeal the Volcker Rule's restrictions on , restructure the by making its director removable at-will by the president, and impose the strictest penalties to date for financial , including up to 25 years for executives enabling deceptive practices. Proponents, including Hensarling, contended these changes would foster and by reducing regulatory burdens estimated at $24 billion annually under Dodd-Frank, while critics from consumer advocacy groups warned of weakened oversight that could invite future instability. The House passed the Financial CHOICE Act on June 8, 2017, by a 233-186 vote, largely along party lines, marking a significant Republican effort to dismantle key Dodd-Frank elements amid evidence that the law had not prevented banking sector concentration—four largest banks' market share rose to 45% by 2017—but had correlated with subdued credit growth, with U.S. bank loans as a percentage of GDP lagging pre-crisis norms. Although the did not advance , its framework influenced subsequent partial reforms, such as the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act, which raised the asset threshold for enhanced supervision from $50 billion to $250 billion, providing relief to over 20,000 smaller institutions as endorsed by Hensarling. Hensarling described Dodd-Frank as a "grave mistake" that prioritized bureaucratic expansion over genuine risk reduction, citing data showing no reduction in metrics like leverage ratios at major banks despite trillions in new rules.

Export-Import Bank opposition

Jeb Hensarling, as chairman of the House Financial Services Committee from 2013 to 2019, spearheaded Republican opposition to the reauthorization of the (EXIM), arguing that the agency functioned as unnecessary corporate welfare that distorted free markets and exposed taxpayers to undue risk. He contended that EXIM's financing, which supported roughly 2% of exports primarily benefiting large corporations like and , could be adequately handled by private lenders without government intervention. In June 2014, Hensarling convened a hearing to scrutinize the Obama administration's request for reauthorization, emphasizing the agency's history of defaults and its failure to implement mandated reforms from the 2012 renewal, such as better . Despite pressure from business interests, including Texas exporters, he refused to advance a clean reauthorization bill through his committee, leading to a temporary nine-month extension attached to a 2014 continuing resolution to avert a . The bank's charter expired at midnight on , 2015—the first lapse since its founding in 1934—after Hensarling blocked consideration of reauthorization, securing commitments from a majority of Republican members to oppose any vote. He maintained that the expiration would not disrupt existing commitments, as EXIM could only approve new deals above $10 million during the lapse, and urged reforms to limit subsidies if revival occurred. EXIM operations effectively halted for major transactions until December 4, 2015, when included a four-year reauthorization in an , overriding Hensarling's resistance; he voted against the measure, citing insufficient reforms to curb what he described as . By October 2015, Hensarling noted growing opposition, with House votes against long-term renewal rising from 93 "no" votes in prior cycles to 118, reflecting his influence in shifting conservative sentiment.

Leadership in Congress

House Republican Conference Chairman

Hensarling was elected House Republican Conference Chairman in November 2010 for the 112th Congress (2011–2013), the fourth-ranking position in House Republican leadership after Speaker , Majority Leader , and Majority Whip . In this role, he coordinated messaging and strategy for the Republican caucus, emphasizing amid the influx of 87 new GOP members following the 2010 midterm elections. His tenure focused on communicating the party's priorities of deficit reduction and , drawing on his prior experience as vice chairman of the House Budget Committee under . Hensarling worked to integrate Tea Party-aligned freshmen into the , harnessing their demands for spending cuts while navigating internal tensions between conservatives and leadership during budget battles and the 2011 debt ceiling crisis. He publicly advocated for policies rejecting tax increases and prioritizing structural reforms over short-term extensions, positioning the GOP as defenders against what he described as failed Obama administration economic policies. In early 2012, Hensarling delivered the Weekly Republican Address ahead of President Obama's , critiquing regulatory burdens and calling for pro-growth measures like energy production and trade agreements to address unemployment and debt. His messaging aligned with broader efforts to highlight contrasts on economic recovery, though he emphasized unity in legislative execution over internal disputes. Hensarling did not seek re-election to the chairmanship after the 112th , transitioning to chair the Financial Services Committee in the 113th.

Chair of House Financial Services Committee

Jeb Hensarling was elected Chairman of the House Committee on on November 29, 2012, assuming the role at the start of the 113th Congress on January 3, 2013. He served three consecutive terms through the end of the 115th Congress on January 3, 2019, succeeding and preceding . During this period, the committee oversaw legislation on banking, housing, insurance, securities, and , conducting hundreds of hearings on , regulatory reform, and . Hensarling's chairmanship emphasized reducing federal regulatory burdens post-2008 , particularly targeting the Dodd-Frank Reform and Act of 2010 for creating excessive compliance costs and concentrating banking power. He spearheaded the Financial CHOICE Act of 2017, a comprehensive bill to repeal Title II of Dodd-Frank (which enabled bailouts), replace the with an independent agency under congressional oversight, exempt smaller banks from certain regulations, and enhance market discipline through capital requirements. The measure passed the by a vote of 233-186 on June 8, 2017, but stalled in the amid Democratic opposition and industry divides. The committee under Hensarling advanced targeted reforms, including the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, which raised the asset threshold for "systemically important" banks from $50 billion to $250 billion, providing relief to community lenders while maintaining core safeguards; this bipartisan bill was signed into law on May 24, 2018. Hensarling also prioritized ending "" designations and taxpayer-funded rescues, criticizing Dodd-Frank for perpetuating by empowering regulators to designate and bail out institutions. Efforts extended to housing finance, with hearings and proposals for privatizing and , drawing on Hensarling's prior introduction of reform bills during the 2008 crisis. In his final term, Hensarling focused on capital markets competitiveness, co-sponsoring with Ranking Member a 2018 package to modernize disclosure rules and boost investment access, reflecting a push for amid slowing post-recession recovery. He declined to seek another chairmanship term, citing limits of three terms, and announced his retirement from in January 2018 after passing key deregulatory measures under unified Republican control. Critics from consumer advocacy groups argued his agenda favored over protections, while supporters credited it with easing credit for small businesses and averting regulatory overreach.

Post-congressional career

Executive positions

Following his departure from Congress in January 2019, Hensarling joined in April 2019 as Executive Vice Chairman of the , a role in which he collaborated with the firm's senior leadership to advise on , regulatory matters, and client relationships in the and sectors. He held this position as a managing director until at least the early , focusing on leveraging his congressional experience in financial oversight to support UBS's strategic initiatives in the U.S. market. Subsequently, Hensarling transitioned to board and advisory roles in various industries. He joined the board of directors of in November 2021, serving on the governance body of the Atlanta-based media company. In April 2023, he was appointed to the board of Aero Design Labs, a firm specializing in advanced and solutions. This was followed by his election to the board of Concord Servicing in January 2025, a servicing provider. In November 2024, he became a strategic advisor to the , contributing expertise on listing standards and market development. Most recently, on October 6, 2025, Hensarling was appointed senior advisor at ProCap BTC, a bitcoin-focused firm, to guide compliance, treasury strategies, and regulatory navigation amid cryptocurrency market growth.

Public engagement and commentary

Following his departure from Congress in January 2019, Hensarling has engaged in public commentary on , , and broader economic issues, often emphasizing free-market principles and intervention. In a September 2, 2024, op-ed for the , he argued that reducing the scope of government is essential to counter "wokeness" and its associated cultural and economic distortions, stating that big government inherently suppresses freedom and growth regardless of ideological alignment. Hensarling has appeared in media interviews critiquing aspects of federal economic policy. On September 5, 2025, he discussed potential leadership changes, the role of alternative assets in portfolios, and ongoing regulatory turf battles between the SEC and CFTC in an interview with Capitol Account DC, reflecting on his post-Congress observations of policy dynamics. In an August 21, 2025, appearance on CNBC's , he warned that the Trump administration's consideration of a stake in sets a "dangerous precedent" for increased state involvement in private enterprise, potentially eroding market incentives. He has also addressed fiscal brinkmanship and market competition. On October 3, 2025, in a Bloomberg interview, Hensarling supported the emerging , asserting that the U.S. has endured a "trading duopoly for too long" and that new entrants could enhance competition and efficiency in securities trading. Later that day, he advocated for automatic continuing resolutions to avert government shutdowns, describing such events as detrimental to all parties and underscoring the need for procedural reforms to maintain stability. Hensarling maintains an active speaking schedule, positioning himself as an authority on revitalizing the U.S. economy through and fiscal restraint, with engagements focused on addressing structural challenges like and innovation barriers.

Political philosophy and legacy

Core principles

Hensarling's centers on constitutional , emphasizing , fiscal discipline, and individual as foundational to American prosperity. He has described himself as a lifelong conservative committed to advancing principles of faith, family, free enterprise, and freedom, viewing excessive intervention as a to these values. This stance informed his opposition to expansive federal programs, including bailouts and corporate subsidies, which he criticized as enabling and taxpayer liability without promoting self-reliance. Central to his beliefs is a strong advocacy for free markets, which he credits with alleviating poverty more effectively than government anti-poverty initiatives. Hensarling argued that regulations like Dodd-Frank diminished and opportunity by prioritizing bureaucratic oversight over market-driven solutions. He championed by seeking to curb federal spending and debt, aligning with efforts to enforce spending caps and balanced budgets during his congressional tenure. Hensarling also defended and as consistent with conservative ideals, rejecting as contrary to the dynamic growth fostered by open markets. In post-congressional commentary, he extended this philosophy to advocate small government as a bulwark against cultural impositions, asserting that decentralized authority better preserves personal and economic freedoms. His principles reflect a first-principles approach prioritizing empirical outcomes of market liberty over ideological expansions of state power.

Achievements and criticisms

As Chairman of the House Financial Services Committee from 2013 to 2019, Hensarling advanced efforts, shepherding more than 80 bills into law, including the , Regulatory Relief, and Act of , which raised asset thresholds for enhanced prudential standards under Dodd-Frank from $50 billion to $250 billion, exempting smaller institutions from stricter oversight. He also led the passage of the JOBS Act 3.0 in July , which passed the House 406-4 and expanded capital-raising options for small businesses through and regulatory relief for emerging growth companies. Hensarling introduced the first comprehensive reform legislation for and during the 2008 credit crisis, advocating for to reduce exposure to risks, a position later echoed in bipartisan efforts. Hensarling opposed the 2008 financial bailouts, voting against the and criticizing government interventions as moral hazards that incentivize risky behavior without addressing root causes like loose and housing subsidies. His tenure emphasized free-market principles, including scrutiny of the (CFPB), which he argued overreached with unaccountable enforcement and stifled innovation; he sponsored bills to restructure the CFPB under , though many stalled in the . As Chairman in the 112th , he coordinated messaging on , contributing to the party's 2010 midterm gains. Critics, including Democratic lawmakers and consumer advocates, accused Hensarling of prioritizing financial industry interests over consumer protections, particularly in his push to repeal or weaken Dodd-Frank provisions, which they claimed left the vulnerable to repeats of the 2008 crisis by reducing safeguards against systemic risks. His leadership in blocking reauthorization of the Export-Import Bank from 2015 onward drew opposition from manufacturers and exporters, who argued it disadvantaged U.S. firms against foreign competitors subsidized by similar entities, potentially costing jobs in export-dependent sectors. Hensarling's critiques of the for underpricing risks and creating faced pushback from coastal constituents and insurers, who viewed reform attempts as disruptive to affordable coverage amid rising sea levels. During hearings, he clashed with figures like Rep. over regulatory approaches, defending diverse viewpoints in policymaking against accusations of partisanship. Supporters countered that such criticisms overlooked empirical evidence of Dodd-Frank's compliance burdens, which Heritage Foundation analyses estimated at over $27 billion annually for community banks alone, hindering lending.

References

  1. https://bioguide.congress.gov/search/bio/h001036
  2. https://history.house.gov/People/Detail/15568
  3. https://ballotpedia.org/Jeb_Hensarling
  4. https://www.allamericanspeakers.com/celebritytalentbios/Jeb%2BHensarling/440336
  5. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=400630
  6. https://www.congress.gov/115/meeting/house/105558/witnesses/HHRG-115-HA00-Bio-HensarlingJ-20170215.pdf
  7. https://www.cato.org/people/jeb-hensarling
  8. https://www.dmagazine.com/publications/d-magazine/2009/november/jeb-hensarling-the-gops-most-powerful-nobody/
  9. https://rollcall.com/2014/12/16/rep-jeb-hensarling-mourns-loss-of-his-father/
  10. https://www.legistorm.com/person/bio/51424/Thomas_Jeb_Hensarling.html
  11. https://www.opensecrets.org/revolving-door/jeb-hensarling/summary?id=81691
  12. https://www.ubs.com/content/dam/assets/wma/static/documents/hensarling-bio.pdf
  13. https://www.wsb.com/speakers/jeb-hensarling/
  14. https://votesmart.org/candidate/biography/49827/jeb-hensarling
  15. https://www.dmagazine.com/publications/d-magazine/2009/november/jeb-hensarling-the-gops-most-powerful-nobody/2/
  16. https://milkeninstitute.org/article/jeb-hensarling-joins-milken-institute-senior-fellow
  17. https://www.congress.gov/crec/2007/08/01/CREC-2007-08-01-pt1-PgE1678.pdf
  18. https://www.texaspolicy.com/wp-content/uploads/2018/08/2001-Annual-Report.pdf
  19. https://www.nytimes.com/elections/2010/house/texas/5.html
  20. https://www.texastribune.org/texas-election-results/texas-2002-election-primary/3847/
  21. https://www.cbsnews.com/news/jeb-hensarling-gop-committee-chairman-wont-seek-re-election/
  22. https://texasscorecard.com/federal/hensarling-retirement-open-seat-effect/
  23. https://ballotpedia.org/Texas%2527_5th_Congressional_District_election%2C_2016
  24. https://www.texastribune.org/2017/10/31/us-rep-jeb-hensarling-dallas-republican-says-he-wont-run-re-election/
  25. https://www.cnbc.com/2017/10/31/republican-chair-of-house-financial-services-committee-will-not-run-for-re-election-in-2018.html
  26. https://www.politico.com/story/2017/10/31/hensarling-wont-seek-reelection-in-2018-244374
  27. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401204
  28. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401336
  29. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401420
  30. https://www.pbs.org/wgbh/pages/frontline/breakingthebank/interviews/hensarling.html
  31. https://www.latimes.com/business/la-fi-hensarling-dodd-frank-20170605-story.html
  32. https://www.forbes.com/2009/09/30/end-tarp-bailout-congressman-opinions-contibutors-jeb-hensarling.html/
  33. https://www.cnbc.com/2009/12/09/bailout-watchdog-crisis-response-worked-somewhat.html
  34. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=352239
  35. https://www.politico.com/story/2009/06/republicans-want-tarp-money-back-023808
  36. https://www.youtube.com/watch?v=FmcWe_tnqlY
  37. https://www.texastribune.org/2017/02/19/hensarling-ready-make-last-term-chairman-count/
  38. https://www.keranews.org/government/2014-09-10/hensarlings-political-muscle-tested-in-his-fight-against-export-import-bank
  39. https://www.npr.org/2016/12/13/505442877/rep-jeb-hensarling-outlines-future-of-financial-reforms-under-dodd-frank
  40. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401912
  41. https://www.usatoday.com/story/opinion/2016/09/26/dodd-frank-congress-jeb-hensarling-editorials-debates/91133478/
  42. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=400730
  43. https://www.housingwire.com/articles/38574-jeb-hensarling-dodd-frank-was-a-grave-mistake/
  44. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401006
  45. https://www.congress.gov/bill/115th-congress/house-bill/10/all-actions
  46. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401819
  47. https://nationalmortgageprofessional.com/news/63309/house-passes-dodd-frank-reform
  48. https://www.klgates.com/Dodd-Frank-Reform-What-Comes-Next-07-06-2017
  49. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=385849
  50. https://www.texastribune.org/2015/06/09/hensarling-ex-im-bank/
  51. https://www.govinfo.gov/content/pkg/CHRG-113hhrg91151/html/CHRG-113hhrg91151.htm
  52. https://www.politico.com/story/2014/06/jeb-hensarling-export-import-bank-108165
  53. https://www.dallasnews.com/news/politics/2014/09/19/rep-hensarling-votes-for-spending-bill-keeps-ex-im-bank-alive/
  54. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=399293
  55. https://www.cbsnews.com/news/export-import-bank-expires/
  56. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=399831
  57. https://democrats-financialservices.house.gov/issues/extending-import-export-bank-charter.htm
  58. https://www.forbes.com/sites/brianwingfield/2010/11/17/names-you-need-to-know-in-2011-jeb-hensarling/
  59. https://www.dallasnews.com/news/politics/2011/01/23/deficit-hawk-rep-jeb-hensarling-enjoying-more-influence-than-ever/
  60. https://www.politico.com/story/2011/02/house-conservatives-push-on-policy-048738
  61. https://www.cnbc.com/2011/01/06/cnbc-transcript-cnbcs-larry-kudlow-speaks-with-representative-jeb-hensarling-tonight-on-cnbcs-the-kudlow-report.html
  62. https://www.youtube.com/watch?v=4pouBhMinY8
  63. https://www.politico.com/story/2012/01/hensarling-eyes-financial-panel-chairmanship-072127
  64. https://www.thinkadvisor.com/2012/11/29/hensarling-elected-house-financial-services-chairman/
  65. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=403573
  66. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=402010
  67. https://www.politico.com/story/2017/01/politico-pro-q-a-jeb-hensarling-chairman-house-financial-services-committee-233415
  68. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=403751
  69. https://www.americanbanker.com/news/an-uncompromising-jeb-hensarling-is-not-sorry
  70. https://www.ubs.com/global/en/media/display-page-ndp/en-20190411-former-congressman-named-executive-vice-chairman-of-americas.html
  71. https://www.americanbanker.com/news/jeb-hensarling-to-join-ubs-as-executive-vice-chairman
  72. https://www.txse.com/leadership
  73. https://www.prnewswire.com/news-releases/former-chairman-of-the-house-financial-services-committee-jeb-hensarling-joins-procap-btc-as-senior-advisor-302575559.html
  74. https://www.prnewswire.com/news-releases/aero-design-labs-adl-announces-appointment-of-jeb-hensarling-to-board-of-directors-301808879.html
  75. https://www.cato.org/commentary/fight-wokeness-small-government
  76. https://www.capitolaccountdc.com/p/jeb-hensarling-on-fed-firings-alternative
  77. https://www.youtube.com/watch?v=U6lrchEwSJg
  78. https://www.bloomberg.com/news/videos/2025-10-03/we-ve-been-trading-duopoly-for-too-long-jeb-hensarling-video
  79. https://www.facebook.com/BloombergTelevision/videos/shutdowns-arent-good-for-anybody-jeb-hensarling/1538200250873718/
  80. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=388236
  81. https://fortune.com/2015/05/18/jeb-hensarling-takes-a-swing-at-corporate-welfare/
  82. https://www.wsj.com/articles/SB117513500052352716
  83. https://www.cato.org/publications/the-conservative-case-for-globalization
  84. https://www.washingtonpost.com/news/powerpost/wp/2017/10/31/rep-jeb-hensarling-staunch-opponent-of-financial-regulations-says-he-will-retire/
  85. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=404082
  86. https://www.npr.org/2017/11/30/567404266/rep-hensarling-consumer-financial-protection-bureau-hurts-consumers
  87. https://www.cnn.com/2018/06/27/politics/hensarling-waters-hearing
  88. https://www.heritageaction.com/scorecard/members/h001036
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