Senate Banking Committee Chairman Christopher Dodd assured credit unions last week that he favored keeping the NCUA as an independent regulator and wouldn't include it in the super regulator for banks he is proposing.
"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 (D-Conn.) said at a hearing last Tuesday on his bill, in response to a question from Sen. Jeff Merkley, (D-Ore.).
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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