S.3259: Consumer Credit Fairness Act

Consumer Credit Fairness Act - Amends federal bankruptcy law governing equitable subordination of claims in a bankruptcy case to: (1) subordinate a claim arising from a high cost consumer credit transaction to all other claims; and (2) require transfer to the estate in bankruptcy of any lien securing a subordinated claim. Defines "high cost consumer credit transaction" as an extension of credit by a creditor resulting in a consumer debt with...

(Source: Library of Congress)