Article written by Columbia, SC bankruptcy lawyer Daniel Stone
I do not like to talk or chat about politics. However, I do want to point out that we now have a bankruptcy and consumer advocate in the United States Senate. Last week, Elizabeth Warren was elected as a United States Senator out of Massachusetts. For those of you who are unfamiliar with her, Senator Warren has been a leading advocate for consumer and debtor bankruptcy rights. Senator Warren was one of the most vocal advocates for defending debtors and consumers when the bankruptcy law changed in 2005 and has been a consistent advocate for new laws to help consumer laws.
In 2007, Elizabeth Warren introduced the idea of the formation of a new consumer agency. In 2010 the Consumer Financial Protection Bureau was created and Senator Warren was appointed as a special advisor. I am excited to finally have a true consumer advocate in the U.S. Senate. It will be exciting to see in the next few years if any new debtor friendly bankruptcy and consumer legislation is introduced from Senator Warren.