WASHINGTON — Despite a big push to win additional support from Democrats on the Senate Banking Committee, six of the more liberal panel members voted Thursday against a bill to overhaul the mortgage finance system, effectively killing its chances to make it to the chamber floor this year.

The vote was technically a success, with the legislation passing the panel 13 to 9, boosted by the support of six Democrats and seven Republicans. But because it engendered such a split within Democratic ranks, it is highly unlikely Senate leadership will pursue it any further.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access