A Joe Biden presidency could open the door to the first major revision in 15 years to the nation’s consumer bankruptcy laws, a critical financial backstop for Americans overwhelmed by debt.
Mr. Biden, the Democratic presidential candidate, has proposed changes that would make it easier for struggling borrowers to file for bankruptcy and reduce the cost of doing so, embracing Sen. Elizabeth Warren’s platform for rolling back amendments to the bankruptcy code he voted for when he was a senator in 2005.
Overhauling…
This post first appeared on wsj.com
