According to a report in the Wall Street Journal, Donald Trump’s team is considering a congressman with deep ties to Wall Street banks as a potential Treasury Secretary.
The Journal cites “people familiar with the matter” as saying Rep. Jeb Hensarling (R-TX) is on a list developed by Trump’s aides. He is the chairman of the House Financial Services Committee and has been an advocate for deregulation of the sector.
Individuals and political action committees associated with Wall Street have donated millions of dollars to Hensarling over his career, according to data compiled by OpenSecrets.org.
In 2016 alone Wall Street sources donated $585,490 to his campaign. Bank of America is Hensarling’s top corporate donor. Wells Fargo, JPMorgan and Visa are also in his top 20 donor list.
On his transition website, Trump has said that he would like to repeal post-crisis regulation Dodd-Frank and also the rule requiring professional investors to put their clients’ interests above their own.
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