Credit unions got a mixed back of goods when the House of Representatives passed a housing bill yesterday by a margin of 234-191.

The measure includes a provision allowing bankruptcy judges to rewrite the terms of mortgages, which credit unions have long opposed. Credit unions, banks and other financial services providers persuaded Democrats to include provisions that made it less objectionable, such as requiring the homeowner to make a greater effort to reach an agreement with the mortgage holder before filing for bankruptcy.

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