Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Hensarling to head House FSC

By Arthur D. Postal

X
Your article was successfully shared with the contacts you provided.

Rep. Jeb Hensarling, R-Texas, was today named by Republicans as the new head of the House Financial Services Committee.

He succeeds Rep. Spencer Bachus, R-Ala., who was term-limited by House Republican Conference rules.

Also of note, Rep. Ed Royce, R-Calif., a key figure on insurance regulatory issues, was named chairman of the Foreign Affairs Committee. His office was not available to comment on whether he would remain a member of the FSC as well.

In another key appointment, Rep. Dave Camp, R-Mich., will remain as chairman of the Ways and Means Committee, where he will play a critical role in determining the future of tax provisions affecting the insurance industry.

At the same time, Rep. Paul Ryan, R-Wis., chairman of the Budget Committee, was the only term limited-affected Republican House chairman to retain his seat. He obtained a waiver from House Republican rules to remain as a chairman for a fourth term.

It remains unclear who will replace Rep. Judy Biggert, R-Ill., as chairman of the Subcommittee on Insurance, Housing and Community Opportunity of the FSC.

Hensarling is a former aide to Sen. Phil Gramm, R-Texas, and helped write the Gramm-Leach-Bliley Act, which the insurance industry sought as a means of keeping banks out of their business. He will likely continue to work to limit federal regulation of insurance.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.