PRESERVATION OF CLAIMS AND DEFENSES UPON SALE OF PREDATORY LOANS.

SEC. 204. PRESERVATION OF CLAIMS AND DEFENSES UPON SALE OF PREDATORY LOANS. Section 363 of title 11, United States Code, is amended—(1) by redesignating subsection (o) as subsection (p), and(2) by inserting after subsection (n) the following: 119 STAT. 50 “(o) Notwithstanding subsection (f), if a person purchases any interest in a consumer credit transaction that is subject to the Truth in Lending Act or any interest in a consumer credit contract (as defined in section 433.1 of title 16 of the Code of Federal Regulations (January 1, 2004), as amended from time to time), and if such interest is purchased through a sale under this section, then such person shall remain subject to all claims and defenses that are related to such consumer credit transaction or such consumer credit contract, to the same extent as such person would be subject to such claims and defenses of the consumer had such interest been purchased at a sale not under this section.”.