Barrier Reemerges To BankruptcyBill

Register now

WASHINGTON - (02/11/05) -- Even as momentum is starting tobuild again for the bankruptcy reform bill the same obstacle thatblocked the bill in each of the last two congresses arose Thursdayduring the Senate Judiciary Committee's first hearing on the bill.Sen. Charles Schumer said he will forge ahead with his provisionbarring abortion clinic protesters from shielding their assetsunder bankruptcy law, the same provision that killed the bill inthe final days of the last two congresses. "The bankruptcy codeshould not be used as a safe haven by anybody who commits violenceor intimidation on abortion clinics," said the New York Democrat."Bankruptcy is no escape from accountability." Sen. Patrick Leahy,D-Vt., also expressed his support for the so-called Schumeramendment, signaling yet again the bankruptcy bill will be drawninto the heated debate over abortion rights. For lawmakers andobservers at Thursday's bankruptcy hearing--almost four years tothe day of the committee's last hearing on the bankruptcy bill--itmust have seemed like dĚjÀ vu as CUNA's witnessKenneth Beine, president of Shoreline CU, lead off the testimonycomplaining of the rising toll of member bankruptcy filings on hisTwo Rivers, Wis., credit union.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER