Day-care center for feds to stay open
By Lisa Rein
Small Savers, the day-care center steps from the White House that was threatened with closure under a provision of the new financial reform law, has won a reprieve.
Leaders of the small, parent-run center that has cared for babies and toddlers for 24 years in the basement of the downtown building occupied by the Office of Thrift Supervision received a letter Friday from John Walsh, acting Comptroller of the Currency, offering to continue letting Small Savers operate. The OCC will take control of the building at 17th and G streets NW when the new law takes effect next July.
"I want you to know that I recognize the importance of quality child care and am very sympathetic to the concerns you have raised," Walsh wrote, offering to "enter into an agreement" with the nonprofit to allow it to continue to operate.
Walsh wrote that he had only learned of the threat to Small Savers this month, when parents launched a lobbying blitz on Capitol Hill to save it. As an unintended consequence of the new financial regulation law, the center was set to close when the thrift supervision office, which regulates the country's savings and loans, dissolves next year. The fine print of the law requires the agency's assets to close, too -- which meant the end for Small Savers.
When The Post wrote about the issue this month, Treasury officials said they had made no decisions about the fate of the day-care center and were focused on moving OTS employees to other financial agencies.
"We were so thrilled to get their news," said Adina Renee Adler, a Small Savers parents who led the fight to save the center.
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