As discussed in AIS webinar from March of this year, Congress has begun to turn its attention to bankruptcy matters. At this juncture, the House Judiciary Committee has announced the first in a series of hearings on bankruptcy policy. As the July 21st press release indicates, the hearings will examine potential reforms to both the consumer and commercial bankruptcy systems including:

• The use of nonconsensual non-debtor releases
• Student loan bankruptcy
• Racial disparities in the use of the consumer bankruptcy system
• The rights of workers in the bankruptcy process
• The role of the U.S. Trustee Program

…as well as other potential topics. AIS will monitor the situation and seek more information about the committee’s intentions and schedule.  Based on the current Congressional calendar, AIS expects actual legislation to be debated and voted on in late Q3 and Q4 of this year. We will provide updates and commentary, as more news breaks. Click Here to Read the Press Release