CIS/Index
Copyright
© 1999, Congressional Information Service, Inc.
2000 CIS S 24111
TITLE:
Bankruptcy Reform and Financial Services Issues
CIS-NO: 2000-S241-11
SOURCE: Committee on Banking, Housing, and Urban Affairs. Senate
DOC-TYPE: Hearing
Retrieve the full text of testimony
DOC-NO: S. Hrg. 106-466
DATE: Mar. 25, 1999
LENGTH: iv+124 p.
CONG-SESS: 106-1
ITEM-NO: 1035-C; 1035-D
SUDOC: Y4.B22/3:S.HRG.106-466
MC-ENTRY-NO: 2000-13180
CIS DOCUMENT ON DEMAND: 1-800-227-2477 (Full Text Reproductions)
INCLUDED IN LEGISLATIVE HISTORY OF:
P.L. 106-122
SUMMARY:
Hearing to review various proposals to revise
bankruptcy laws, focusing on provisions to revise
bankruptcy laws applicable to individual and commercial debtors.
Also considers H.R. 833, the
Bankruptcy Reform Act of 1999, to amend the Federal Deposit Insurance Act to revise
Bankruptcy Code provisions applicable to individual and commercial debtors, including
provisions regarding rules to govern events when one party to a financial
derivatives contract becomes insolvent.
Supplementary material (p. 47-124) includes witnesses' written statements and a
witness's written replies to Committee questions, submitted statements, and
correspondence.
CONTENT-NOTATION:
Bankruptcy laws applicable to individual and commercial debtors,
reform proposals review
BILLS:
106 H.R. 833
DESCRIPTORS:
BANKRUPTCY; BUSINESS DEBT; CONSUMERS; PERSONAL AND FAMILY INCOME; PERSONAL DEBT; FINANCIAL
REGULATION; COMMODITY CONTRACTS AND EXCHANGES;
BANKRUPTCY REFORM ACT; FEDERAL DEPOSIT INSURANCE ACT
00-S241-11 TESTIMONY NO: 1
Mar. 25, 1999 p. 2-9
WITNESSES (and witness notations):
DURBIN, RICHARD J. (Sen, D-Ill)
GEKAS, GEORGE W. (Rep, R-Pa)
BOUCHER, RICK (Rep, D-Va)
TORRICELLI, ROBERT G. (Sen, D-NJ)
STATEMENTS AND DISCUSSION:
Differing perspectives on
bankruptcy reform proposals.
CONTENT NOTATION:
Bankruptcy laws applicable to individual and commercial debtors,
reform proposals review
00-S241-11 TESTIMONY NO: 2
Mar. 25, 1999 p. 10-25, 51-63
WITNESSES (and witness notations):
GRAMLICH, EDWARD M. (Member, Federal Reserve Board)
JONES, DOUGLAS H. (Senior Deputy General Counsel, FDIC)
MCCLELLAN, MARK (Deputy Assistant Secretary, Microeconomic Analysis, Office of
Economic Policy, Department of Treasury)
STATEMENTS AND DISCUSSION:
Differing views on
bankruptcy reform measures contained in H.R. 833, including financial contract provisions;
perspectives on consumer
bankruptcy issues.
CONTENT NOTATION:
Bankruptcy laws applicable to individual and commercial debtors,
reform proposals review
TESTIMONY DESCRIPTORS:
FEDERAL DEPOSIT INSURANCE CORP.; FEDERAL RESERVE BOARD; DEPARTMENT OF TREASURY
00-S241-11 TESTIMONY NO: 3
Mar. 25, 1999 p. 25-46, 63-118
WITNESSES (and witness notations):
MCCORMICK, TERRY (President, Plains Bell Federal Credit Union; representing
Credit Union National Association)
MCDONNELL, BRIAN L. (President and CEO, Navy Federal Credit Union; representing
National Association of Federal Credit Unions)
ANDREWS, WRIGHT H., JR. (attorney, representing National Home Equity Mortgage
Association (NHEMA))
WARREN, DAVID (Managing Director, Morgan
Stanley Dean Witter
& Co.; representing Bond Market Association)
PRILL, RONALD A. (Senior Vice President, Guest Credit, Dayton Hudson Corp.;
also representing National Retail Federation)
CLIMO, BETH (Group Director, Financial Industry Affairs, American Bankers
Association)
KLEIN, GARY (Senior Attorney, National Consumer Law Center)
STATEMENTS AND DISCUSSION:
Views of credit unions on
bankruptcy reform proposals, with concerns regarding proposed mandatory disclosure requirements
designed to help consumers make informed credit decisions; perspectives on
bankruptcy reform issues, including support for financial contract provisions contained in
various
bankruptcy reform proposals.
Objections to
bankruptcy reform proposals concerning credit cards, including disclosure provisions; need for
bankruptcy system
reform, citing merits of needs-based approach; consumer perspectives on
bankruptcy reform issues.
INSERTION:
-- NHEMA,
"Home Equity Lending" (p. 77-84).
CONTENT NOTATION:
Bankruptcy laws applicable to individual and commercial debtors,
reform proposals review
TESTIMONY DESCRIPTORS:
CREDIT UNION NATIONAL ASSOCIATION; INFORMATION SERVICES AND SYSTEMS; MORTGAGES;
CREDIT UNIONS; CREDIT CARDS
LOAD-DATE: July 6, 2001
