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Comparison of Selected Consumer Provisions in H.R. 833 and S. 625, the Bankruptcy Reform Acts of 1999 1 (August 9, 1999)

handle is hein.bank/crsbank0014 and id is 1 raw text is: Updated August 9, 1999 Comparison of Selected Consumer Provisions in H.R. 833 and S. 625, the Bankruptcy Reform Acts of 1999 Robin Jeweler Legislative Attorney American Law Division Summary The Senate Judiciary committee reported S. 625 favorably on April 27, 1999 by a vote of 14-4. Many of the controversial issues that were not addressed in committee are likely to be addressed on the floor. The House passed its version of bankruptcy reform, H.R. 833, on May 5, 1999 by a vote of 313-108. The bill, a manager's amendment to H.R. 833, is similar to H.R. 3150, passed by the House during the 105' Congress, although several amendments were adopted. The President has threatened to veto the Bankruptcy Reform Act if it is enacted in a form comparable to H.R. 833 as passed by the House. This report will be updated as legislative developments warrant. The full Senate may soon consider S. 625, 106' Cong., 1st Sess. (1999), addressing bankruptcy reform.1 In the meantime, the House recently passed H.R. 833, 106th Cong., 1st Sess (1999).2 Several floor amendments were agreed to, including those which expand the scope of nondischargeability of student loans to include all qualified loans rather than just federally backed ones;3 an amendment to modify the Truth in Lending Act (TILA) to require credit card issuers to make disclosures regarding minimum monthly payments;4 and an amendment imposing certain disclosure and notice requirements on debt relief 1 See S.Rept. 106-49 (1999). See also, S. 945, 106 th Cong., 1st Sess. (1999), entitled the Consumer Bankruptcy Reform Act of 1999, introduced May 3, 1999 by Sen. Durbin. 2 145 CONG. REC. H2769 (daily ed., May 5, 1999). See H.Rept. 106-123, Part 1 (1999). ' H.R. 833 at § 218 4 Id. at § 112. Congressional Research Service o.+ The Library of Congress CRS Report for Congress Received through the CRS Web

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