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WASHINGTON — The Democratic take over of the House could impact the makeup of the Financial Services Subcommittees and, therefore, influence who would be the lead sponsor of the Credit Union Regulatory Improvements Act should it reappear.

With Financial Institutions Subcommittee Ranking Member Bernie Sanders (I-Vt.) leaving the House for the open Senate seat in his state, CUNA Vice President of Legislative Affairs Dean Sagar said, it is “uncertain” whether Congressman Paul Kanjorski (D-Pa.) would remain the chair of the Capital Markets Subcommittee on which he currently serves as ranking member or if he would choose to move to the Financial Institutions Subcommittee; Kanjorski will have first pick. However, as chairman of the Financial Institutions Subcommittee, Sagar said, he would likely decline to sponsor legislation to come before the subcommittee, as current chairman Spencer Bachus (R-Ala.) has done.

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