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ICBA Praises Senate Judiciary Committee for Passage of Bankruptcy Reform

Washington, D.C. (Feb. 18, 2005) - Independent Community Bankers of America (ICBA) President and CEO Camden R. Fine issued the following statement in response to Senate Judiciary Committee passage of S. 256, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, by a 12-5 vote:

"ICBA congratulates the Senate Judiciary Committee for its swift action on the important bankruptcy reform bill, which ICBA has fought to pass for eight years. The American people, who pay the high costs of bankruptcy abuses, are demanding that the system be fixed. The Senate Judiciary Committee action is a critical step in that direction. We urge the full Senate to take up this measure as quickly as possible and reject amendments that would undo the carefully crafted balance that now exists in the bill."

The bill now goes to the Senate floor, with plans for a full vote the week of Feb. 28.

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