WASHINGTON - (03/02/05) -- Senate Democrats pushed for anamendment to the bankruptcy bill Tuesday that would exempt activeduty military from the means test of the bill, one of dozens ofamendments Democratic opponents of the bill are planning tointroduce during the expected two-week debate on the measure. "Manymen and women in the military are making extraordinary sacrifices,"said Sen. Richard Durbin, D-Ill.. "It's unfair that they shouldcome home to face this harsh bankruptcy law." Durbin's proposalwould also allow more generous homestead exemptions for soldiers sothey could keep their home and cars. Democratic opponents are alsoplanning to file amendments in the next few days to protectindividuals forced into bankruptcy by medical emergencies from themeans test; to require greater disclosures from credit cardcompanies on interest and fees; and to bar abortion clinicprotesters from shielding their assets under bankruptcy laws. Sen.Ted Kennedy, D-Mass., said he is also contemplating an amendmentthat would increase the minimum wage, which hasn't been raised in adecade. Senate Republicans are hoping to limit the number ofamendments in order to maximize the chances of the bill gettingpassed in the House.
-
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
1h ago -
The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
1h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
1h ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
4h ago -
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24