Senate Majority Leader Bill Frist says he believes the Senate will be able to pass a consumer bankruptcy bill during the week of Feb. 28 that is acceptable to the House and the Bush administration.Sen. Frist, R-Tenn., noted that there will be no limits on amendments during floor debate and said he expects the Democrats to offer amendments to increase the minimum wage and to block abortion clinic protesters from shielding assets under the bankruptcy laws. The abortion amendment, by Sen. Charles Schumer, D-N.Y, has prevented passage of the consumer bankruptcy bill (S. 256) for the past two years. With a larger Republican majority in the Senate this year, Sen. Frist appeared to be confident that the Senate will vote the Schumer amendment down. "Now that we have picked up five votes, I am comfortable we can deal with it," Sen. Frist told a U.S. Chamber of Commerce meeting. However, the majority leader stressed that it is important for the Senate Judiciary Committee to mark up and approve S. 256 on Feb. 17 so the debate on consumer bankruptcy can start right after the Senate returns from its week-long Presidents' Day recess. Democrats are trying to delay the mark-up and tie up the bill in committee. "We've got to have mark-up this week," Sen. Frist said.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
10h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24