WASHINGTON-House Judiciary Committee Chairman Jim Sensenbrenner (R-Wis.), also the bankruptcy reform conference committee chairman, thanked NAFCU for its support and hard work on the Bankruptcy Abuse Prevention and Consumer Protection Act (H.R. 333). “As you know, the time for bankruptcy reform legislation is long-overdue,” Sensenbrenner’s letter read. “The conference report represents the most comprehensive reform legislation in nearly 25 years. The necessity for these reforms is heightened by the continuing surge of bankruptcy filings and by the fact that the present bankruptcy system has loopholes and incentives that encourage opportunistic personal filings and abuse.” The chairman continued, “Through the outreach efforts of associations like NAFCU, the message that the time for bankruptcy reform is now has been clearly communicated to Congress on both sides of the aisle. I encourage you to continue these efforts, especially in the coming weeks.” He specifically cited the work of NAFCU Senior Vice President and General Counsel Bill Donovan and Chief Lobbyist Murray Chanow.

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