WASHINGTON -- Bankruptcy reform legislation, a high priority for the banking industry, took a major step forward Monday with a decision by the House leadership to schedule a vote for today.

"We anticipate House action by Tuesday, and we expect the Senate to pass it on Wednesday, said Phil Corwin, lobbyist for the American Bankers Association.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.