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Article: Bankruptcy Reform Bill in Jeopardy.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 19, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Karen Masterson, Houston Chronicle Knight Ridder/Tribune Business News
Sep. 19--WASHINGTON--After years of wrangling and a multimillion-dollar lobbying campaign, supporters of the most sweeping changes in bankruptcy law since the 1970s will likely leave another session of Congress empty-handed.
Banks and credit card companies for a decade have sought legislation to keep overextended consumers from using the courts to erase their credit card debt.
This session, those industries shored up their chances with $16.3 million in campaign contributions -- roughly two-thirds to Republicans and a third to Democrats -- and at least $4 million in ...