WASHINGTON - Rep. Randy Neugebauer, R-Texas, a senior member of the House Financial Services Committee, said Thursday that he would not run for office in 2016.

The Texas lawmaker, who chairs the banking panel's financial institutions and consumer credit subcommittee, is completing his seventh term in the House. He's been active on a variety of banking issues, including housing finance reform, cybersecurity and terrorism risk insurance.

"After much thought and prayer, I have decided not to seek re-election in 2016," he said in a statement. "This was a difficult decision, but I feel this is a good time to end this season of my life and move to another."

Neugebauer, 65, said the decision is not related to health concerns. He had radiation treatment this summer after a bout with early-stage prostate cancer six years ago.

"There will be a lot of speculation on why I came to this decision. Some will say it's health reasons; I feel great and I am cancer-free," he said, adding that he hopes to spend more time with his family and do some fly-fishing.

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