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Credit Firm Gave Moran Favorable Loan; As He Sought Deal, Lawmaker Backed Finance Industry Bill
[FINAL Edition]
The Washington Post - Washington, D.C.
Subjects: Debt; Home financing; Credit cards; Loans; Political ethics
Author: Jo Becker and Spencer S. Hsu
Date: Jul 7, 2002
Start Page: A.01
Section: A SECTION

Four days after his MBNA home loan was final, Moran raised his profile in the bankruptcy debate, becoming lead Democratic co- sponsor of an even broader bill. Weeks later, Moran and the executive in charge of MBNA's loan department testified on the same day in favor of the bill before a House subcommittee.

Moran said he was unaware that MBNA was a major backer of bankruptcy reform and does not recall speaking with MBNA or other credit industry lobbyists about the legislation. The timing of the loan and his heightened role in pushing bankruptcy reform were pure coincidence, Moran said, with the bill's chief Republican sponsor setting the schedule.

Moran and his former wife, [Mary Moran], both remember their negotiations with MBNA beginning with a call from a company representative checking their delinquent accounts. The caller recommended MBNA's home refinancing program to Mary, who Moran said handled initial negotiations.

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