Former top GOP on banking committee hired by Swiss bank UBS

Jeb Hensarling, Steven MnuchinThe Associated Press
FILE - In this July 18, 2018, file photo,House Committee on Financial Services Chair Rep. Jeb Hensarling, R-Texas, speaks during a committee hearing with Federal Reserve Board Chair Jerome Powell on Capitol Hill in Washington. Hensarling, the former congressman who led Republican’s efforts to deregulate the banking industry after the financial crisis, is starting a new job as an employee of Swiss bank UBS. (AP Photo/Jacquelyn Martin, File)

The former congressman who led Republican's efforts to deregulate the banking industry after the financial crisis is starting a new job as an employee of Swiss bank UBS.

Jeb Hensarling was a congressman from Dallas from 2003 to 2019. From 2013 to 2019 was chairman of the House Financial Services Committee, the committee that oversees the banking industry. He declined to run for re-election in 2018, saying he wanted to spend more time with his family.

While Hensarling was in Congress, he pushed aggressively to undo some of the rules and regulations put into place by Democrats after the financial crisis, notably the Dodd-Frank Act and the Consumer Financial Protection Bureau.

His new title at UBS is executive vice president of the Americas region.

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