Millions Could See Medical Debt Added to Credit Reports Under Trump Plan
Newsweek1 day
Trump CFPB Reverses Credit Rules, Preempts State Laws
Above: Acting Director of the U.S. Consumer Financial Protection Bureau, Russell Vought, at the White House on Oct. 21, 2025. Image copyright: Allison Robbert/Bloomberg/Getty Images
The Spin
Republican narrative
The CFPB correctly restored national credit reporting standards by clarifying that federal law preempts conflicting state regulations. This prevents a chaotic patchwork of 50 different state rules that would fragment credit markets, increase borrowing costs and hurt consumers' ability to access credit nationwide.
Democratic narrative
Trump's CFPB is attacking state efforts to protect Americans from medical debt on credit reports just as healthcare costs skyrocket. This cruel move helps credit agencies like Equifax profit off people's medical misfortune while blocking states from shielding families facing bankruptcy from unexpected illnesses.
Editor's Note
This story currently has limited reporting from right-wing sources. We will continue to monitor all major outlets and update our coverage as additional perspectives become available.