... consumer advocates may take a harsh view of Biden's vote in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The law was the first major re-write of the bankruptcy code in over 30 years, and, according to critics, made it harder and more expensive for lower and middle-class consumers to file for bankruptcy. [....]
The credit card and banking lobby, including Biden-donor MBNA, pumped millions of dollars into Congress over 10 years to help get approval of that bill. Biden voted for it, while Obama was one of the 25 senators who voted against it. [....]
Lawless said the biggest problem with the law was the hurdles it created for consumers who seek to file for Chapter 7 or Chapter 13 bankruptcy.
