Commentators continue to debate whether Senate Banking Committee Chairman Christopher Dodd’s decision to retire makes it more or less likely that legislation overhauling financial regulation will be enacted.

Does Senate Banking Chairman Christopher Dodd's decision to retire help or hurt the odds of financial regulatory reform being enacted? Observers told the American Banker that it's a plus. The idea, espoused by American Bankers Association president and chief executive Edward Yingling and former Republican Sen. John Sununu, is that, with no campaign to run, Dodd is freer to focus on the legislation -- and his legacy. But others claim his lame-duck status could make moving legislation tougher

The Union Station Metro station in DC is plastered with Visa ads. Currency of Progress, Visa is a Payment Technology Company, etc. But among the ones that was featured was this beauty: One rarely sees such a defensive ad. When...

From the California Insolvency Law Committee: New California Legislation Effective January 1, 2010 With the start of the New Year, several statutory amendments of interest to insolvency constituents came into effect in California: Impound Accounts on Residential Mortgages. California Civil...

CNNMoney.com reports that a new proposal before the Senate could mean big news for how energy is bought and sold in the U.S. – and for how much average consumers pay.

Bankruptcy clients typically want to keep their transportation and are willing to ignore the advice of their attorneys about not signing a reaffirmation agreement. Thankfully, some bankruptcy judges are willing to protect the debtors from themselves and have ruled that the reaffirmation agreements presented will not be allowed. The debtors are told to keep current on their payments and they will be able to keep the vehicle.

The current state of the law allows second and third mortgages to be modified in chapter 13 plans when the borrower is already underwater on a first mortgage.

A 32-year-old single mother of two filed for chapter 7 bankruptcy in Kansas and lost her $900 monthly lifetime annuity payment.  This week she lost her attempt to protect the annuity from her creditors and the bankruptcy trustee.
The chapter 7 bankruptcy trustee likely will sell the future stream of annuity payments for a lump sum [...]

Late last week, the U.S. House of Representatives voted to approve a bill that introduces a spate of consumer protection measures.
The amendment that would have permitted homeowners to address foreclosure in bankruptcy by altering the terms of mortgage loans (in what’s known as “cramdowns”), though, did not make the cut.
Provisions of the Bill
The Wall Street Reform and Consumer Protection Act, as it’s known, includes the following provisions: