Bankruptcy “Reform†without Other Reform, Part 2: Predatory Lending and Other Creditor Reform Measures are MIA
In my attempts to find any kind of federal legislation designed to curb predatory lending or to regulate lending practices such as “universal default,” even I was surprised at how little progress has occurred.
It’s not even worth a link. I found nothing that would indicate that any kind of bill is near passage. Everything that would appear to be relevant was in the early stages of committee referral, which at this late date means they are languishing and will almost certainly see no action before the end of the year. If anyone has news that contradicts this, e-mail me.
Congress’s failure to act in this area while whipping through bankruptcy “reform” legislation earlier this year is a breach of faith by the many lawmakers who promised they would “get around to” these areas later this year.
Very predictable, but still very disappointing.
