WASHINGTON -- The still Republican-controlled Senate is looking to hold an oversight hearing on bankruptcy reform this Congress.
The Administrative Oversight and the Courts Subcommittee has scheduled a hearing Dec. 6 on the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act that went into effect last October. CUNA and NAFCU both strongly supported the legislation that aimed to prevent gaming of the bankruptcy system and force debtors who could pay back some of their debts to do so. Both groups were aware of the hearing, but did not have much to say about it.
Initially, credit union lobbyists were saying that the lame duck session might be short if control changed hands from the GOP to the Dems, but Congress was in a full week last week and is expected to work at least another week at the beginning of December.