WASHINGTON -- The Democratic party took a commanding lead in the House and blue gains in the Senate were just enough for a slim advantage in the Senate.

The Senate was split 51-49, including two independents caucusing with the Democrats. Democratic candidates Jim Webb (Va.) and Jon Tester (Mont.) won tightly contested races with respective Republican incumbents, George Allen and Conrad Burns. Allen was expected to concede to Webb last Thursday while everyone but Burns was calling the Montana race for Tester.

Just three Senate Banking Committee members' seats were in play this election: Rick Santorum (R-Pa.), who lost his re-election bid to Bob Casey Jr., and Democrats Bob Menendez (N.J.) and Debbie Stabenow (Mich.) held their seats. Ranking Member Paul Sarbanes (D-Md.) is retiring at the end of the session. Additionally, Senator-elect Bernie Sanders (I-Vt.) is a likely candidate for a seat on the committee, credit union lobbyists have said.