In the wake of falling poll numbers and a likely difficult race for a sixth term, Senate Banking Committee Chairman Christopher Dodd (D-Conn.) is expected to announce today that he will retire from office at the end of the year, according to several media reports.
Dodd, who has been at the center of the Senate's debates on regulatory restructuring and health care reform, has received money from the political action committees of both CUNA and NAFCU for his re-election campaign. During the current six-year campaign cycle, CUNA's PAC gave Dodd $7,000 and NAFCU's PAC gave him $6,000.
Though Dodd has been generally supportive of credit unions-he has called for consolidating several financial regulators though vowed to keep the NCUA independent-during a 2008 hearing he expressed concern that some credit unions were engaging in "mission creep" and becoming too much like banks.
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