Hensarling keeps Financial Services gavel

Rep. Jeb Hensarling (R-Texas) will stay on as chairman of the House Financial Services Committee. 

The Republican Steering Committee on Tuesday reappointed Hensarling, who has proven himself an ally to the Tea party on key financial issues.

{mosads}There were some rumblings that Hensarling would face a challenge from Rep. Frank Lucas (R-Okla.).

Hensarling has bucked the business community in his time as chairman, most notably on issues like the reauthorization of the Export-Import Bank and Congress’s terrorism insurance program (TRIA). 

He has argued that such programs — traditionally bipartisan issues with broad support in Congress — put taxpayers at risk and benefit only a few.