Credit unions dodged a bullet on Capitol Hill today when the House defeated an amendment by House Judiciary Committee Chairman John Conyers (D-Mich.) that would have given bankruptcy judges the power to rewrite the terms of mortgages.
The 241-188 vote was on an amendment to a bill to revamp the regulation of financial institutions.
Both CUNA and NAFCU lobbied the issue hard and urged members to lobby their members.
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