Groundwork Being Laid For BankruptcyReform In 109th Congress

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WASHINGTON, D.C. - (11/09/04–With all signs indicatingbankruptcy reform will have to wait for the 109th Congress, NAFCUand CUNA are working to ensure it is high on the priority list forthe next session. The Republicans have managed to grow its majoritystatus in both the House and Senate and maintain George Bush in thepresidency, but that doesn’t mean that the compromises andagreements that have brought this bill so close to passing in thisand previous Congresses will mean quick and smooth sailing in the109th Congress. “There are some new players in Congress, sowe will have to wait and see how the issues play out,” saidNAFCU’s Brad Thaler. Sen. Charles Schumer’s amendmentensuring that attackers of abortion clinics cannot use bankruptcyto get out of paying fines has proven an effective means ofstalling the bill in the past, Thaler noted, but it’s unclearwhether that will be the issue this time around. And although theGOP picked up seats in both the House and Senate, the Dems stillhave enough senators on their side of the aisle to filibuster themeasure.

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