Abortion Issue Clouds Future of Bankruptcy

A measure preventing violent anti-abortion protesters from shielding their assets under federal bankruptcy law continues to stall the credit union-backed bankruptcy reform bill as both sides of the debate blame the other over the impasse. Sen. Charles Schumer (D-N.Y), claimed his amendment is necessary because numerous abortion protesters, including at least one convicted of an abortion clinic killing, have sought to protect their assets from civil awards against them by filing for bankruptcy. But Rep. Henry Hyde (R-IL) insisted that current law already provides adequate protection in such cases and the bankruptcy bill should not single out those involved in specific kinds of activities. The abortion clinic issue is the only one preventing final passage of the bill, which has already passed both the House and Senate by large bipartisan margins and is currently in a conference committee, which is working to reconcile the differences between the two bills.

The Credit Union Journal's Washington Bureau Chief, Ed Roberts, can be reached at (202) 434-0334 or robertscuj aol.com, or by visiting www.cujournal.com.