Search Results: keywords:"bankruptcy protections"

  • S. 5399 — To amend title 11, United States Code, to provide bankruptcy protections for medically distressed debtors, and for other purposes.
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    Status:Introduced in Senate
    Words:1,477

    The bill titled the Medical Bankruptcy Fairness Act of 2024 aims to change bankruptcy laws to provide protections for individuals overwhelmed by medical debt. It introduces the term "medically distressed debtor" and allows these individuals to have additional exemptions and...

    Simple Explanation

    The Medical Bankruptcy Fairness Act of 2024 is a plan to help people who have a lot of medical bills by making it easier for them to get a fresh start with their money, especially if medical emergencies have made it hard for them to pay what they owe.

  • H. R. 9985 — To subject certain private funds to joint and several liability with respect to the liabilities of firms acquired and controlled by those funds, and for other purposes.
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    Status:Introduced in House
    Words:25,331

    H.R. 9985, known as the "Stop Wall Street Looting Act," aims to hold private investment funds accountable by imposing joint and several liability on these funds for the debts and liabilities of companies they control. The bill includes provisions to prevent private funds from financially...

    Simple Explanation

    In a story where strange rules are written for how people who put money into businesses must be more honest and careful, this rule tries to stop money from being used in tricky ways that can hurt companies and workers. It says that the people controlling the money have to share the blame if something goes wrong, and also need to tell everyone exactly what they are doing with their money to make sure it’s fair.