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President Embraces Bankruptcy Reform.(Brief Article)
Washington -- President George Bush signed a bill to stop abuses in the bankruptcy system and make it harder for consumers with median incomes to avoid repaying at least a portion of their debts.
The president said the bankruptcy reform bill will stop abuses that have allowed too many people to walk away from their debts.
"By making the system fairer for creditors and debtors, we will ensure that more Americans can get affordable credit," the president said at a bill signing ceremony.
The House passed the bill by a 302-126 vote and the Senate passed the bill by a 74-25 vote.
American Financial Services Association president and chief executive Randy Lively said the signing of the bill (S. 256) culminates an eight-year lobbying effort to reform the bankruptcy code. "The new law will ...
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...ACQUISITION OF COWGER & MILLER MORTGAGE SERVICING PORTFOLIO PITTSBURGH, June 8 /PRNewswire...has closed its acquisition of the mortgage servicing portfolio of Cowger & Miller...by Citizens Fidelity Bank's PNC Mortgage Servicing Company. The acquired portfolio...