I've written a couple times about the Reach Act. My two biggest issues with it:
1. Concerns already mentioned above about it giving too much responsibility to government, colleges & universities over independently operating organizations (fraternities & sororities).
2. It seems like it creates a federal criminal law, which is constitutionally a state matter
Not only are most hazing incidents already against the law (assuming they involve defamation, assault, battery, etc.), but what this will essentially do is ensure that lawsuits occur across the board. It's really intended to be a long-term scare tactic (which may or may not work).
All my opinions, but I'm a little flustered that all of these organizations endorse legislation so willy nilly and without even considering reaching out to their members first. I'm writing legislation for my fraternity's next Convention to address that