The possible schism has been whispered about, first on conspiracy sites (i.e. the prophecy of St Malachy) then in right wing blogs that want some of the Vatican II stuff stopped, and now it is starting to be discussed on mainstream Catholic publications, and even noticed by the NYTimes.
the issue seems to be Francis' push for "mercy" as in "it's okay for catholics who are in a sacramental marriage to get divorced and remarry, and if they don't have papers, no problem: Just receive communion anyway". This was done even though the "bishops" synod did not approve of this.
But the problem is a lot deeper: it goes to the nature of what is sin, and if there is an objective standard of right and wrong.
from the Catholic Thing:
It’s worth noting that only one of the five questions posed for clarification by the Cardinals had to do with admitting divorced and civilly remarried Catholics to the Eucharist. In a way, the other four questions point to even more significant problems relating to the existence of intrinsically evil acts, the objective situation of grave habitual sin, and the critically important formation of an objectively true conscience.
David Warren adds more
.Bergoglio intended what amounts to sabotage;...I do not think this can be doubted any longer; nor can I doubt the consistency with which he has insulted reliable Catholic teachers, and the longsuffering Catholic faithful, in his words, his flighty and irresponsible gestures, and in his persistent appointment of craven liberal mediocrities to vital Church offices. He has been described, aptly, as a papal wrecking ball.
Mercy is fine: We all need it.
But anyone who actually has worked with people recognizes that "mercy" is easily morphed into being a co-enabler of evil.
Sigh. Time to get the rosary out and start praying...