House Financial Services Committee Chairman Jeb Hensarling, R-Texas, will not run for re-election in 2018, the prominent Republican told his supporters on Tuesday. Hensarling may be on his way out of Congress, but he said Tuesday that he won’t stop working to further his agenda for the remainder of his term – including housing finance reform.

In another indication of how President-elect Donald Trump plans to pursue financial reform, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is reportedly being considered to serve as Secretary of the Treasury in the Trump administration.

The Consumer Financial Protection Bureau, long a target of Republicans on Capitol Hill, is in the crosshairs again, as the House Financial Services Committee approved a bill Wednesday that would bring the CFPB’s budget under Congressional oversight. The CFPB's budget currently comes from the Federal Reserve, which has no oversight of the bureau.

House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, and Rep. Scott Garrett, R-NJ, sent a letter to the Securities and Exchange Commission questioning new regulatory powers given to the agency under Dodd-Frank to oversee private equity funds.