WH To Drop Ban On Medical Debt On Credit Reports

Barron’s reports:

Courts might stop President Donald Trump from completely eliminating the Consumer Financial Protection Bureau. But many high-profile actions the agency took to rein in so-called junk fees and eliminate medical debt from credit reports are likely dead.

Over the weekend, Office of Management and Budget Director Russell Vought, who is also the acting CFPB director, said the agency wouldn’t take its next allocation of funding from the Federal Reserve.

In his memo suspending the CFPB’s work, Vought said the agency should also suspend the effective dates of rules that haven’t yet gone into effect. That will capture many initiatives pushed out the door by former CFPB Director Rohit Chopra.

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