Rep. Jeb Hensarling, R-Texas, has been tapped to become the next chairman of the House Financial Services Committee.
The Dallas Morning News reports that Hensarling was nominated by the House Republican Steering Committee to succeed Rep. Spencer Bachus, R-Ala. The House Republican conference will vote today to confirm Hensarling.
Hensarling, a six-term congressman, was named vice-chairman of the committee in 2010. He has been one of the most vocal critics of the Dodd-Frank Act and the conservatorship of the government-sponsored enterprises. He has also been critical of the Obama administration's housing policies, and in December 2011 he warned that the management of the Federal Housing Administration was "a disaster in the making.’