President Bush has signed the bankruptcy bill, which will make it harder for consumers with median incomes to use the bankruptcy courts to avoid repaying at least a portion of their debts.The president said the bill (S. 256) will stop abuses of the bankruptcy system 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 signing of the bill culminates an eight-year effort to reform the bankruptcy code, according to the American Financial Services Association. "The new law will bring sweeping changes to an overburdened, antiquated system while encouraging accountability and responsibility," AFSA president and chief executive Randy Lively said. Personal bankruptcy filings totaled nearly 1.6 million in 2004.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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