House and Senate negotiators said Friday that they remain far apart on the key provisions of consumer bankruptcy reform, prompting serious doubts the legislation can be enacted this year.

Backed by the White House, Democrats from both chambers rallied around the Senate bill as pro-consumer legislation that would let a judge decide whether bankruptcy filers may discharge their debts in Chapter 7 or be forced to repay some unsecured debts in Chapter 13.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.