The NCUA would remain a separate agency and not part of a consolidated bank regulator, but credit unions would face an additional layer of regulation and examination by the Consumer Financial Protection Agency, under a regulatory overhaul plan unveiled today by Senate Banking Committee Chairman Christopher Dodd (D-Ct.).

Dodd's bill would combine the regulatory powers of four existing agencies over banks and thrifts into the Financial Institutions Regulatory Administration. The NCUA would remain the safety and soundness regulator for credit unions.

But the NCUA would lose some of its jurisdiction on consumer issues to the proposed Consumer Financial Protection Agency. The bill says the CFPA shall assess fees on financial institutions with assets greater than $10 billion, including credit unions and can assess fees on those with assets of $10 billion and smaller.