Forbes has published an article, “Warren-Nadler Consumer Bankruptcy Reform Act Portends Biggest Changes To Bankruptcy Code Since 2005,” which discusses the changes that the CBRA act could make the bankruptcy code. The article begins as follows:
Senator Warren and Congressman Nadler have introduced the Consumer Bankruptcy Reform Act (CBRA) which portends to be the biggest change to the U.S. Bankruptcy Code since the Bankruptcy Abuse Prevent and Consumer Protection Act of 2005. Note that this is simply the first iteration of proposed legislation, and has not yet passed to any committee for review. The odds of this Act becoming law as now stated is probably zero. But the proposed Act is interesting as an indication of whether Congress may be headed.
Click here to see full article: “Warren-Nadler Consumer Bankruptcy Reform Act Portends Biggest Changes To Bankruptcy Code Since 2005”.
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.