On a day when he was pushing his plan to have one super regulator for banks, Senate Banking Committee Chairman Christopher Dodd, (D-Conn.) said today that credit unions wouldn't be under the purview of such an agency.
"I want to make it clear that this does not relate to credit unions. Before I get calls from around the country, I wanted to make that point: Credit unions, you are ok," Dodd said at a hearing on his bill, in response to a question from Sen. Jeff Merkley, D-Ore.).
Sen. Bob Corker, (R-Tenn.), then commented to Dodd that he had "just given evidence to where the real political clout is."
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House Financial Services Committee Chairman Barney Frank, D-Mass., has also expressed support for keeping the NCUA separate as has the Obama administration.
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