Bankruptcy

Sotomayor Confirmed for Supreme Court; Bankruptcy Impact

By Meaghan Olson

Judge Sonia Sotomayor made history today when she fully approved by congress to serve on the US Supreme Court.

Judge Sotomayor will become the first Hispanic and only the third woman to ever serve on the country’s highest court.

Her legacy and impact on the court have yet to be determined, but it’s possible that she could play a role in reshaping bankrutpcy laws.

As bankruptcy rates for July hit their highest mark since reform laws were passed it’s possible that new laws or challenges to laws could come before congress or the highest court. If new laws might impact banks, credit card companies or other powerful, moneyed intersts, it’s certainly plausible that their might be objections or challenges.

Likewise, there may other actions involving subprime mortgages, Sen. Dick Durbin’s proposed bill that would give judges power to modify mortgages or laws that limit predatory lending.

Full post as published by The Bankruptcy Blog on August 06, 2009 (boomark / email).