Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Senate rejects cramdown amendment
WASHINGTON (5/1/09)—As the Senate Thursday moved toward final action on S. 896, the Helping Families Save Their Homes Act, it voted down by a six-vote margin an amendment that would have allowed judicial mortgage modifications. However, the provision’s chief sponsor—Senate Majority Whip Richard Durbin (D-Ill.)—put the Senate on notice that this defeat, with a 51-45 vote, is not the end of his battle to enact the mortgage bankruptcy provisions. Durbin declared on the Senate floor that if the language is not added to a House-Senate conference version of the bill at a later date, he will be back to the Senate with another bill. The Credit Union National Association (CUNA) was strongly opposed to the House-approved mortgage bankruptcy provisions. However, CUNA remained steadfast at the negotiating table in the Senate to help craft a bill that would represent good public policy while mitigating impact on credit unions. This week, when those negotiations stalled, CUNA President/CEO Dan Mica said CUNA is “gratified that we influenced a number of improvements to the legislation by our commitment." He also noted, “We have the utmost respect for Sen. Durbin; we look forward to working with him on many more important policy issues."


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
14 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
10 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
10 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
11 hours ago