Sen Elizabeth Warren Looking to Pass Major Bankruptcy Reform Legislation
Back in 2005, under the Administration of Bill Clinton, major changes in the bankruptcy laws were made that benefited creditors. The 2005 bankruptcy reform bill was signed into law by President George W. Bush. Bush and the Democratic controlled Congress at the time were heavily lobbied by the credit card industry. Senator Joe Biden voted in favor of the 2005 reform bill. Elizabeth Warren was a consumer rights advocate and Harvard Law professor at the time. Warren lobbied against the…