Political Quotes

“the majority has received the modified Wellstone amendment. I ask that his amendment be modified at this time. The PRESIDING OFFICER. The amendment will be so modified. The amendment (No. 36), as modified, is as follows: (Purpose: To disallow certain claims and prohibit coercive debt collection practices) At the end of subtitle A of title II, add the following: SEC. 204. DISALLOWANCE OF CERTAIN CLAIMS. In General.--Section 502(b) of title 11, United States Code, is amended-- (1) in paragraph (8), by striking ``or'' at the end; (2) in paragraph (9), by striking the period at the end and inserting ``; or''; and (3) by adding at the end of the following: ``(10) such claim arises from a transaction-- ``(A) that is-- ``(i) a consumer credit transaction; ``(ii) a transaction, for a fee-- ``(I) in which the deposit of a personal check is deferred; or ``(II) that consists of a credit and a right to a future debit to a personal deposit account; or ``(iii) a transaction secured by a motor vehicle or the title to a motor vehicle; and ``(B) in which the annual percentage rate (as determined in accordance with section 107 of the Truth in Lending Act) exceeds 100 percent.''. Amendment No. 78 The PRESIDING OFFICER. The Senator from Oregon is recognized.”