Orrin Hatch: “As I said before, the Durbin amendment would upset 4 solid years of negotiations between both sides of the aisle on both…”

“As I said before, the Durbin amendment would upset 4 solid years of negotiations between both sides of the aisle on both sides of Capitol Hill. It is lacking in all kinds of areas. There is no enforceable means test. It does not include the improved child support provisions that have been requested and desired by the child support community. It does not have the Leahy-Hatch privacy language. It does not have the reaffirmation provisions. It lacks the Debtors' Bill of Rights. It lacks 4 years of improvements in the financial netting provisions. It does not address the abuse of the bankruptcy system by those who wish to discharge debts arising from violence, the Schumer-Hatch compromise. It has much weaker antifraud provisions, such as weakened audit provisions. You can just go on and on. It deletes current law provisions in allowing the courts to consider charitable contributions when making a determination as to whether the debtor's filing is an abuse. It does not provide for retroactive enactment of chapter 12 filings that benefits our farmers from July 1, 2000, to the date of enactment. The amendment would create an immediate effective date which, given the scope of the legislation, is wholly inappropriate, and it lacks improvements to the small business bankruptcy provisions that are in the bill currently before the Senate.”