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**News - Bankrutpcy Reform Bill - possible action **

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Senior Member
Heads-up folks !!

From a news source I subscribe to:


The Senate this week is expected to introduce Credit Union National Association (CUNA) backed legislation passed by the House last year that would reform bankruptcy laws in the U.S. Sen. Charles Grassley (R-Iowa) is expected to introduce the bill today or tomorrow, according to CUNA Senior Vice President of Governmental Affairs John McKechnie.

Mr. McKechnie indicated that it would be similar to a bill passed by the House last year, except it would not include the controversial Sen. Charles Schumer (D-N.Y.) amendment on abortion clinic violence. CUNA strongly supports the passage of a bankruptcy abuse reform bill.

But according to informed sources the House has decided NOT to introduce the bill until the Senate takes action, waiting to see if the bill will pass without the Schumar (abortion clinic) amendment.

The Senate leadership is planning to take action on the bill in early February with hopes of passage before the February Presidents' Day recess Feb. 21-25.

Informed sources opine that the Senate is unlikely to act on the legislation in a hurry, but indicate that it is URGENT that any consumer bankruptcy attorney able to help contact NACBA, a major organization orchestrating opposition to the bill. See NACBA.com.


David Goch
Washington Legislative Counsel
Commercial Law League of America

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