Departure of Dodd and Others to Cause Changes on Banking Panel
When Senate Banking Committee Chairman Christopher Dodd (D-Conn.) leaves office at the end of the year, he will be one of at least three members of the committee departing Congress.
If the Democrats keep control of the chamber, Dodd would be succeeded by Sen. Tim Johnson (D-S.D.). The veteran lawmaker has been supportive of credit unions in particular and financial institutions in general. He has been skeptical of placing additional regulations on credit card companies, and many banks have their card operations in his state.
Dodd, who has been a senator since 1981 and chairman of the committee since 2007, announced Wednesday he will not seek a sixth term.
Two Republicans on the panel-Sens. Jim Bunning of Kentucky and Judd Gregg of New Hampshire-are not seeking re-election. A third member of the party, Sen. Kay Bailey Hutchison of Texas, has said she will likely not seek another term.
In addition, Sens. Michael Bennet (D-Colo.) and Robert Bennett (R-Utah), both face potentially difficult primary challenges.
The committee has 13 Democrats and 10 Republicans but that ratio could change, depending on shifts in the partisan breakdown in the Senate. The chamber has 58 Democrats, 40 Republicans and two independents who caucus with the Democrats.