Legislative Highlights

Senators Reintroduce Legislation to Hold Executives Accountable After Big Bank Failures Sens. Elizabeth Warren (D-Mass.), Josh Hawley (R-Mo.), Catherine Cortez Masto (D-Nev.), Ruben Gallego (D-Ariz.), Katie Britt (R-Ala.) and nine additional Senators on March 11 1

Congress Passes “Bankruptcy Administration Improvement Act” The House of Representatives passed (voice vote) S. 3424, the “Bankruptcy Administration Improvement Act of 2025,” 1 to double the compensation payable to chapter 7 trustees in no-asset cases, extend the sunset

Legislative Highlights GENIUS Act Signed into Law to Provide Framework for Stablecoins President Donald J. Trump on July 18 signed the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” (GENIUS Act; Public Law No. 119-27 1) into law to establish a

Legislative Highlights Bipartisan Legislation Introduced to Double Chapter 7 Trustee Compensation for No-Asset Cases Sen. Chris Coons (D-Del.) on May 7 introduced S. 1659, the “Bankruptcy Administration Improvement Act of 2025,” 1 to double the compensation payable to

Legislative Highlights N.Y. Fed: U.S. Household Debt Increased 1 Percent in Q1 2025; Student Loan Delinquencies Rise Sharply The Federal Reserve Bank of New York’s Center for Microeconomic Data on May 13 1 issued its Quarterly Report on Household Debt and Credit, which

Legislative Highlights Senators Introduce Bipartisan Bill to Protect Employees When Businesses File for Bankruptcy U.S. Senate Democratic Whip Dick Durbin (D-Ill.), Ranking Member of the Senate Judiciary Committee, and U.S. Sen. Josh Hawley (R-Mo.) on April 9 1 re

Legislative Highlights Trump Administration Removes Tara Twomey as EOUST Director The Justice Department removed multiple senior career officials on March 7, 1 including Tara Twomey, the head of the Executive Office for U.S. Trustees (EOUST). Jeffrey Ragsdale, the head

Legislative Highlights President Trump Places 25 Percent Tariffs on Steel and Aluminum President Donald J. Trump on Feb. 10 signed two official proclamations 1 that would impose a 25 percent tariff on steel and aluminum from all countries. He said that the action was

Legislative Highlights 119th Congress Convenes: Listing of Key Committee Leadership The 119th Congress convened on Jan. 3 at noon, with both the Senate and House of Representatives under the control of Republicans following the 2024 election. Senate Republicans elected

Legislation Reintroduced Taking Aim at Nonconsensual, Nondebtor Releases in Bankruptcy Sens. Elizabeth Warren (D-Mass.), Dick Durbin (D-Ill.) and Richard Blumenthal (D-Conn.) on Dec. 5 reintroduced S. 5415, the “Nondebtor Release Prohibition Act,” to explicitly prohibit