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.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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