Post #59107 by Steve203 on the US Policy board

Halls of Shrewd'm / US Policy

Unthreaded | Threaded | Whole Thread (1)

Post Reply | Report Post | Recommend It!

No. of Recommendations: 10

Trump administration moves to overrule state laws protecting credit reports from medical debt

The Consumer Financial Protection Bureau has drafted what’s known as an interpretative rule related to the Fair Credit Reporting Act, interpreting the law in a way that says the FCRA should preempt any state laws or regulations when it comes to how debt should be reported to the credit bureaus like Experian, Equifax and Trans Union.

This repeals previous Biden-era rules and regulations that allowed states to implement their own credit reporting bans. More than a dozen states like New York and Delaware prohibit the reporting of medical debt on a consumers’ credit report.

Medical debt is often the most disputed part of a consumer’s credit report, because insurance payments can take time, and oftentimes patients do not have the means to fully pay a medical bill if insurance is not covering a procedure that has already taken place.

https://www.msn.com/en-us/politics/government/trum...

People keep saying Trump will orchestrate the US' default on it's trillions of debt. I maintain that, as the holders of that debt are capable of paying "gratuities" of considerable size, they will never take a hair cut, no matter what the cost to USian Proles, to make the money interests whole. Michigan has been a laboratory for taking from Proles to protect money interests for several years.

Steve

Print the post

Post New

Unthreaded | Threaded | Whole Thread (1)

Prev | Next

Announcements

US Policy FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.