WASHINGTON (12/14/09)--An amendment that would have changed the bankruptcy code to permit judicial mortgage modification in Chapter 13 bankruptcy proceedings was not added to H.R. 4173, the Wall Street Reform and Consumer Protection Act, on Friday. While the Credit Union National Association (CUNA) recognizes the need for Congress to take steps to help keep people in their homes, CUNA was "deeply concerned" that adoption of the amendment offered by Rep. John Conyers (D-Mich.), which failed by a vote of 188 to 241, would "upset the balance" achieved in H.R. 4173. CUNA last week reached out to members of Congress on the cramdown issue, saying in a letter that CUNA considered the Conyers Amendment vote "a key credit union vote." Hundreds of credit union advocates in Washington for a CUNA National Hike the Hill also expressed their opposition to cramdown in their discussions with House members. CUNA President/CEO Dan Mica thanked the leagues and credit unions that contacted Congress during the past week, saying that their efforts, which "made the difference on this key vote," showed "the power of the movement working together." An amendment offered by Rep. Walter Minnick (D-Idaho), which would have replaced the proposed Consumer Financial Protection Agency with 12-member Consumer Financial Protection Council of existing regulators, also failed of Friday. The House also passed H.R. 4173 by a vote of 223 to 202. The provisions of H.R. 4173, if passed into law, would provide sweeping reforms to the financial regulatory landscape and would address financial stability,over-the-counter derivatives, and capital markets. The legislation also proposes the creation of a Consumer Financial Protection Agency. The Senate is expected to take up financial regulatory reform early next year, and Senate Banking Committee Chairman Chris Dodd (D-Conn.) is reportedly revising his own regulatory reform proposals after some colleagues criticized his proposals. Dodd has been unable to earn support from Republicans and some Democrats with ties to industry groups affected by the bill.