Sen. Elizabeth Warren is promising to remake the nation’s consumer bankruptcy system if elected president, returning to her political roots while also potentially picking a fight with a top rival for the Democratic nomination, former Vice President Joe Biden.
The Massachusetts senator on Tuesday unveiled a plan she said would make the process of declaring bankruptcy easier and cheaper for many Americans with debts they can’t pay. It also would largely undo a 2005 law that was backed by Biden and financial industry interests with a lot of political clout in his home state of Delaware. Warren, then a bankruptcy expert and professor at Harvard Law School, clashed with then-Sen. Biden while the law was being debated in Congress — a dust-up she reference in announcing her new plan.