Bankruptcy Reform Now Litmus Test For CU Support

- WASHINGTON (07/26/02) -- Support for thecredit union-backed bankruptcy reform bill has replaced endorsementof HR 1151 as the major determinant for credit union support ofcongressional candidates across the country. Rep. Ed Bryant's workto insure credit unions' reaffirmation authority and to extendpowers to secure liens has prompted Tennessee credit unions tosupport the Republican's candidacy in the race to succeed incumbentSen. Fred Thompson. David Wilson, chief lobbyist for the TennesseeCU League, told The Credit Union Journal, the league and creditunions will probably opt to back Bryant, if he is successful inMonday's primary, over Democrat Rep. Bob Clement, an HR 1151supporter. And in South Carolina, Republican Rep. Lindsey Graham'shard work on behalf of the bankruptcy bill has earned him thecredit unions' support in the race to succeed Republican StromThurmond, retiring after a record 48 years in the Senate. That,despite the fact that Graham's Democratic opponent, former statelawmaker Alex Sanders, is also a long-tome credit union ally. InMichigan, the Michigan CU League withheld its endorsement oflong-time incumbent Reps. John Conyers and Sander Levin because ofthe opposition to the reform bill.