Democratic House members won't pick a successor to retiring Rep.Barney Frank (D-Mass.) in the top spot on the House FinancialServices Committee for a year, and it's far from a sure thingthat the member next in line, Rep. Maxine Waters (D-Calif.), willget the nod.

Waters is currently the subject of an investigation by the HouseCommittee on Standards of Official Conduct for having sought aid toa Boston community bank in which her husband served on the board.There is no timetable for the panel to complete its investigationand if the panel concludes there was any wrongdoing it could reduceher chances to succeed Frank.

Waters is a supporter of credit unions, and a cosponsor oflegislation to raise the cap on member business loans. At a recenthearing on a bank deregulation bill, she declared herself asupporter of credit unions and community banks and said she wantedboth to do even more to spur job creation.