Press Releases
Republicans Aim to Block Cost Lowering CFPB Medical Debt Rule
The CFPB rule would remove $49 billion in medical debt from the credit reports of 15 million Americans
WASHINGTON, DC — Congressional Republicans are once again standing in the way of the Consumer Financial Protection Bureau’s (CFPB) fight to lower costs for American families, this time by introducing a resolution to block the CFPB’s medical debt reporting rule. The rule helps to tackle the $220 billion Americans owe for care received when sick or injured by removing medical debt from credit reports and preventing debt collectors from abusing the credit reporting system to pressure people to pay invalid bills.
Nobody plans to get sick or hurt, and a terrible surprise like medical debt shouldn’t be a deciding factor in their ability to do things like buy a home, car, or take out a small business loan. It’s disappointing that Congressional Republicans are eager to prioritize their grudge against the CFPB over lowering costs for Americans. They’ve used their short time in power to take aim at cost lowering initiatives, critical programs like Medicaid, and regulations that protect us all from predatory financial actors.”
