D.C. Nonprofit Day-Care Center Is Potential Victim of Banking Overhaul

The financial-overhaul package passed by Congress this year could have the unintended consequence of shutting down a nonprofit day-care center popular with parents in government, lobbying, and the news media, The Washington Post reports.

The Small Savers Child Development Center has operated since 1986 in the basement of the Office of Thrift Supervision, which donated the space. The failed watchdog agency is closing and its property will be dissolved under legislation enacted in July to overhaul regulation of the nation’s banks.

Small Saver parents are lobbying Congress to preserve the center, which caters largely to federal workers. Sen. Christopher Dodd, Democrat of Connecticut and chairman of the Senate Committee on Banking, Housing, & Urban Affairs, said he “is looking into” whether Small Savers can remain in its downtown Washington location after the thrift agency closes.

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