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Commercial Law League of America

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As a sponsor of the American Board of Certification, the CLLA encourages certification of attorneys in business bankruptcy, consumer bankruptcy and creditors' rights law.

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FROM THE CLLA NEWSWIRE

CLLA Update - Bankruptcy Bills

March 06, 2015

Thomas Hoenig, Vice Chairman of the FDIC, in a statement insists regulators must enforce Title I by requiring firms to be positioned so they can find resolution through bankruptcy.  With the passage in December of HR 5421, a bill that would make an addition to Chapter 11 of the US Bankruptcy Code meant to improve the bankruptcy process for financial firms, including large banks whose resolutions could have far-reaching implications for domestic and global economies and S. 1861, a bill which seeks not only to adjust the code but also calls for the elimination of the OLA, bankruptcy proceedings for larger firms become possible.

CFPB Chief Says Progress Expected in 2015 on Debt Collection Rulemaking

March 06, 2015

Director Richard Cordray said the CFPB will take a major step forward in completing new debt-collection rules in 2015.  In November 2013 the bureau said it was considering whether new rules would be necessary under the Fair Debt Collection Practices Act. Now Cordray believes the bureau will be moving forward on rule changes to ensure debt collectors have correct information about debtors and communicate with them fairly, as well as making sure consumers are sufficiently informed about debt-collection practices.

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