BANKRUPTCY REFORM ON AGENDA AGAIN, PARTICULARLY IF THE REPUBLICAN NOMINEE WINS

September 4, 2004

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Credit Union National Association (CUNA) staff attending the Republican National Convention (RNC) in New York City this week caused harmonic tremors on the subject of bankruptcy reform.

On the issue of bankruptcy reform, Gary Kohn, CUNA vice president of legislative affairs, said he spoke with several senators yesterday who recognized how difficult it would be to pass legislation this year. “However, they told me they would continue to try to find a way to get it done because they know how important it is to credit unions,” said Kohn.

The House last year passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2003. (J. Thomas Black’s comment: This anti-consumer bankruptcy “reform” law failed to be enacted into law, yet again, no thanks to the credit unions, who are supposedly in favor of helping consumers.)

SOURCE: Credit Union National Association (CUNA.org)