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Senators attack Grassley retirement asset waiver in bankruptcy bill
The Senate backed measure could let credit-card issuers tap retirement assets in bankruptcy. Critics say the provision weakens ERISA protections as assets rolled into IRAs could be reached by creditors. Grassley argues a cap is needed to prevent evading creditors, while opponents warn of broad impact and new waivers in loan documents.
MENTIONED IN THIS ARTICLE
Washington
Congress
Labor Department
Grassley
Charles Grassley
Iowa
Senate
Labor Committee
James Jeffords
R-Vt
Finance Committee