God's Word is, always was and ever shall be eternal. Christ wasn't simply giving the power to forgive or not, bound or loose to the apostles for a small period of time only to have it evaporate after their deaths. He was founding and empowering HIS Church.
The apostles immediately spread out and among other things, commenced to ordaining episcopates, which were given the same power/responsibility that Christ had given them.
This unbroken chain of ordination (the power to bind and loose) which continues today can be traced directly to The Messiah.
I do not find the scripture that says "ordination" is the binding or loosening being referenced.
Let us not forget that miracle that took place at the time of death wherein that veil within the 'Holy of Holies' was rent from the top to the bottom that established the direct access to each individual who would directly to Christ the Savior. No longer was it required that flesh man go through another flesh man to come before the Heavenly Father, Christ Himself became that authority.
Christ sent each of us that would that 'comforter' the Holy Spirit IF we would seek in His name.
Which modern church are you refering to?
Might I inquire the modern church are you refering to?