Which of the following statements is TRUE regarding the circumstances surrounding Congresss enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005?

Group of answer choices

Credit card companies and banks engaged in massive lobbying prior to the enactment of the law.

The statute was intended to protect consumers against for-profit universities that were inducing students to take out loans under false pretenses.

Congress was interested in reducing the incentive for major corporations to take on huge debt.

The number of bankruptcy filings rose in the wake of the enactment of the statute.

None of the above statements is true.