Looking back four years ago finds Senate Majority Leader Tom Daschle (D-S.D.) and House Judiciary Committee Chairman Jim Sensenbrenner (R-Wis.) bringing some sparks to CUNA’s 2002 Governmental Affairs Conference and giving bankruptcy reform supporters reasons to hope their legislation may reach President Bush’s desk sooner rather than later.

“We have seen case after case where people have used bankruptcy as a financial planning tool rather than a tool that allows someone who is down and out to get up off the floor and to have a new start,” said Sensenbrenner. “The time has come to amend the law and make sure that the people claiming bankruptcy protection are legitimately bankrupt rather than simply seeking to shift their bad financial decisions onto their fellow human beings.”

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