Opposition could derail mortgage-modification proposal

04/28/2009 | Washington Post (tiered subscription model), The

Senate Majority Whip Richard J. Durbin, D-Ill. has spent the past several weeks negotiating with executives from JPMorgan Chase, Wells Fargo and Bank of America over a compromise of a bill that would give bankruptcy judges the authority to modify mortgages. However, Scott Talbott, senior vice president of government affairs for The Financial Services Roundtable, said the compromise version of the bill was still too broad. "The uphill battle that the bill has faced for years has continued. It will be very difficult to garner the votes," Mr. Talbott said.

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