Rep. Jeb Hensarling (R-Texas) is on a short list of prospects being considered by President Donald J. Trump to run the Consumer Financial Protection Bureau.

Under House rules, the lawmaker — who first ran for Congress in 2002  — will lose his chairmanship of the House Financial Services Committee, a job he has been in for five years.

So Hensarling, who says the CFPB is unconstitutional because the Dodd-Frank Wall Street Reform and Consumer Protection Act gives it authority to regulate virtually without congressional oversight, is retiring.

Source: Mortgage Daily