Prospects for bankruptcy reform legislation remained unclear Thursday. The legislation passed its first hurdle when the Senate on Wednesday approved 99 to 1 an initial procedural move to limit debate, a so-called cloture motion.

But unless Senate leaders can strike a deal that lets Democrats propose pro-consumer amendments yet still limit debate, opponents have a good chance of killing the legislation for the year by defeating a second cloture attempt.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.