Consumer Payment Card News

Bankruptcy Abortion

Will the holes in the current bankruptcy laws ever be plugged to reduce the abuse by some consumers who have the ability to pay some of their debts? Last week it seemed inevitable that the U.S. House would finally pass the bankruptcy reform legislation, and that the U.S. Senate would follow this week. But neither happened. Pro-life Republicans are upset that Rep. Henry Hyde gave away too much in fine tuning the language in the legislation that dealt with abortion clinic protestors and bankruptcy rights. The pro-life Republicans, led by Rep. Christopher Smith (R-N.J.), blocked the U.S. House vote Friday, stalling the debate until the month- long summer recess ends. The U.S. House adjourned Friday. It is now unlikely the U.S. Senate will take a vote until it passes the U.S. House. Last week, Sen. Charles Schumer and Rep. Henry Hyde settled their differences over abortion-related language in the bankruptcy reform legislation. The abortion provision prevents protestors, who bar others from abortion services through the use of intimidation or interference, the ability to discharge debts arising from those actions. It is now likely a vote will take place in September. If it passes Congress, President Bush said he will sign it. The law would become effective 180 days after the President’s signature.

Leave A Reply