WASHINGTON (1/7/10)--Thanking his constituents for giving him the “opportunity” to serve, Sen. Chris Dodd (D-Conn.) on Wednesday announced that he would not run for re-election to his current Senate seat this November. Commenting on the retirement, Credit Union National Association President/CEO Dan Mica said that Dodd “has always given credit unions fair consideration” during his time as Chair of the Senate Banking Committee, adding that CUNA looks forward to working with Dodd “as he completes his term.” Dodd, who served the citizens of Connecticut in Congress for 35 years, expressed his “deepest gratitude to the people of Connecticut for the remarkable privilege of being elected eight times over the past four decades to our national assembly.” Dodd has been busy over the past year, serving as Senate Banking Chair and as acting Chair of the Senate Health Committee, and managing “four major pieces of legislation through Congress.” Current Connecticut Attorney General Richard Blumenthal, a Democrat, is widely expected to announce that he will run for Dodd's vacant Senate seat. Sen. Tim Johnson (D-S.D.) is expected to take up Dodd's Senate Banking chairmanship. Rep. Barney Frank (D-Mass.), who currently chairs the House Financial Services Committee, said he would miss the “leadership” provided by Dodd, who worked to provide “skillful, creative, and forceful leadership on some of the most important problems facing our country and the world.” Frank added that he is looking forward to “working closely” with Dodd as the Senate finishes “the job of significant financial regulatory reform.” Dodd and ranking Committee member Richard Shelby (R-Ala.) in a recent statement said that "meaningful progress" has been made in the area of financial regulatory reform, with accord being reached on some aspects of enhanced consumer protections and preventing government bailouts of financial firms, modernizing the country's financial regulatory structure and the current oversight of the derivatives market.