Clarifies exceptions to the discharge of individual debtor debt under federal bankruptcy law.

The bill amends Section 523(a) of title 11, United States Code, to clarify exceptions to the discharge of individual debtor debt. It modifies subparagraph (A) to specify that exceptions include false pretenses, false representations, or actual fraud by the debtor, excluding statements about financial condition. It also adjusts subparagraph (B) to clarify that the use of fraud must be by the debtor. Additionally, it revises subparagraph (4) to specify that exceptions include fraud, defalcation, embezzlement, or larceny committed by the debtor while acting in a fiduciary capacity.

Clarifies exceptions to the discharge of individual debtor debt under federal bankruptcy law.

The bill amends Section 523(a) of title 11, United States Code, to clarify exceptions to the discharge of individual debtor debt. It modifies subparagraph (A) to specify that exceptions include false pretenses, false representations, or actual fraud by the debtor, excluding statements about financial condition. It also adjusts subparagraph (B) to clarify that the use of fraud must be by the debtor. Additionally, it revises subparagraph (4) to specify that exceptions include fraud, defalcation, embezzlement, or larceny committed by the debtor while acting in a fiduciary capacity.