Legislation to Reform Bankruptcy Laws Goes Belly-Up in Senate
Kopecki, Dawn, The Washington Times (Washington, DC)
The Senate has officially pulled the plug on a plan designed to make it more difficult for Americans to evade debt by declaring bankruptcy.
"It's good that it died," Mary Rouleau, a lobbyist for the Consumer Federation of America, said of the Consumer Bankruptcy Reform Act. "It was a proposal that was unbalanced, not well thought-through, and was opposed by virtually everyone except the credit industry."
But credit-card companies haven't lost all faith, saying they have "commitments from leadership" to resurrect the bill early next year.
"We just ran out of time," said William Binzel, a lobbyist for MasterCard International, referring to the scheduled …
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Publication information: Article title: Legislation to Reform Bankruptcy Laws Goes Belly-Up in Senate. Contributors: Kopecki, Dawn - Author. Newspaper title: The Washington Times (Washington, DC). Publication date: October 15, 1998. Page number: 8. © 2009 The Washington Times LLC. COPYRIGHT 1998 Gale Group.
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