Judge Scraps Rule Eliminating Medical Debt on Credit Reports
The Consumer Financial Protection Bureau finalized the rule in early January, shortly before President Trump took office. The bureau estimated that the rule, which prohibited credit bureaus from including medical debt in the reports and scores sent to lenders, would have removed $49 billion in medical bills from the credit reports of 15 million Americans. Credit reports are used by lenders to make decisions about whether to approve loans for homes, cars and small businesses.
Before the rule took effect, two trade groups credit bureaus and credit reporting agencies sued to block it, arguing that the bureau had exceeded its authority. They filed the lawsuit in the U.S. District Court for the Eastern District of Texas, a popular venue for litigation challenging the federal government's reach.
Under the Biden administration, the agency fought the lawsuit, but once Mr. Trump returned to the White House, the new leaders he installed to oversee the consumer bureau reversed course. In April, the bureau joined the trade groups in asking the federal court to strike down the agency's regulation.
Last Friday, the court granted their request. Judge Sean D. Jordan wrote that he agreed with the trade groups' argument that the consumer bureau's rule conflicted with Fair Credit Reporting Act, which governs consumer credit reports. That federal law allows lenders and credit reporting agencies to use financial information related to medical debts, and the bureau exceeded its authority by 'fashioning a new regulatory scheme that conflicts with the plain text' of the existing law, the judge wrote.
The Consumer Data Industry Association, a plaintiff in the lawsuit to block the rule, praised the judge's decision. 'Information about unpaid medical debts is an important element in assessing a consumer's ability to pay. This is the right outcome for protecting the integrity of the system,' said Dan Smith, the group's chief executive.
Want all of The Times? Subscribe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
HealthLynked Launches New Enterprise Healthcare Solutions Website and Upgraded Provider Directory to Expand Strategic Value Across the Healthcare Market
NAPLES, Fla., July 28, 2025 (GLOBE NEWSWIRE) -- via IBN -- HealthLynked Corp. (OTCQB: HLYK), a pioneer in healthcare technology and patient engagement, today announced the launch of its newly designed Enterprise Healthcare Solutions Website, along with significant enhancements to its consumer-facing provider directory. These developments further position HealthLynked as a key technology partner for organizations across the healthcare landscape. A Central Hub for Strategic Healthcare Partners The new website serves as a dedicated platform for HealthLynked's commercial partners, showcasing solutions tailored for: Insurance Carriers & TPAs – Streamlined patient engagement, population health tools, and cost-containment services. Pharmaceutical Companies – Access to real-world data for clinical research, engagement, and recruitment. Advertising & Marketing Firms – Targeted healthcare campaigns leveraging HealthLynked's consumer network. ACOs & Healthcare Networks – Technology for coordinated care, data insights, and patient communication. Large Employers & PEOs – Telemedicine access, benefits navigation, and tools for managing employee health costs. "Our new Enterprise Healthcare Solutions Website is a reflection of our expanding role in the healthcare ecosystem," said Dr. Michael Dent, CEO of HealthLynked. "This platform communicates the value we deliver to healthcare stakeholders and reinforces our commitment to scalable solutions that improve outcomes and reduce costs." Enhanced Provider Directory Empowers Patients with Smarter Tools Alongside the new partner-focused site, HealthLynked has implemented major upgrades to its national provider directory, aimed at enhancing the user experience: Improved Performance – Faster load times and smoother navigation. Localized Provider Suggestions – Users viewing a provider profile will now see dynamically generated suggestions for similar providers nearby, increasing care options. These enhancements give patients more flexibility and transparency in choosing providers that fit their specific needs. "Our mission has always been to improve healthcare access and coordination," said Dr. Dent. "The improvements to our platform reflect our continued investment in technology that supports both personalized patient care and enterprise-scale efficiency." Advancing HealthLynked's Strategic Vision Together, the new Enterprise Healthcare Solutions Website and upgraded provider directory demonstrate HealthLynked's commitment to innovation across all touchpoints—strengthening strategic relationships and empowering consumers with better tools to manage their health. About HealthLynked Corp HealthLynked Corp. is transforming healthcare through a cloud-based platform that connects patients and providers nationwide. With secure medical record management, AI-driven insights, and a robust provider directory, HealthLynked delivers improved access, cost savings, and coordinated care for consumers and enterprise clients alike. Learn More: Download the HealthLynked App: Apple App StoreGoogle Play Store Forward-Looking Statements This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks and uncertainties that may cause actual results to differ materially. HealthLynked disclaims any obligation to update these statements except as required by law. Media Contact: HealthLynked Corp. 1265 Creekside Parkway, Suite 200 Naples, Florida 34108 IR@ 1-800-928-7144
Yahoo
25 minutes ago
- Yahoo
Thor Energy to divest 75% of non-core US uranium claims to Metals One
Thor Energy has entered a term sheet with Metals One for the sale of a 75% interest in its US subsidiaries holding non-core uranium and vanadium projects in the US states of Colorado and Utah. The transaction includes an exclusivity fee and potential share issuance upon completion. Under the terms of the transaction, Metals One will acquire a significant interest in Thor Energy's subsidiaries, Standard Minerals and Cisco Minerals, which hold uranium claims in the US. An exclusivity fee of £100,000 is payable to Thor, with a further £1m in shares to be issued upon completion of due diligence and a share purchase agreement (SPA). The agreement also provides Metals One with a 12-month option to purchase the remaining 25% interest in the subsidiaries. The purchase price for this additional stake will be determined by mutual agreement or independent valuation. The parties aim to finalise the SPA by 31 August 2025. The SPA will include standard warranties and representations for such transactions. The sale is contingent upon Metals One's satisfaction with due diligence and the receipt of necessary regulatory approvals for the change of control of the projects. Thor Energy has invested approximately £1.6m in the exploration and development of these US-based uranium assets. However, the company has shifted its focus to the HY-Range natural hydrogen and helium project in South Australia, leading to the decision to monetise its uranium project interests through this sale. Thor Energy CEO and managing director Andrew Hume said: 'I am delighted to announce today the term sheet executed with Metals One PLC, which is building a significant US uranium portfolio. 'We welcome Metals One's in-country operational expertise to help drive these projects forward, whilst we remain focused on our project portfolio and notably our HY-Range natural hydrogen and helium project in South Australia. I look forward to working with the management of Metals One to help achieve our mutually beneficial exploration and development goals.' "Thor Energy to divest 75% of non-core US uranium claims to Metals One" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
S&P 500 Rally Faces $11 Trillion Gauntlet of Big Tech Earnings
(Bloomberg) -- The S&P 500 Index's relentless advance to record highs faces a crucial test this week, with four technology behemoths worth a combined $11.3 trillion reporting earnings over a two-day stretch. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Budapest's Most Historic Site Gets a Controversial Rebuild Trump Administration Sues NYC Over Sanctuary City Policy This earnings season is off to a solid start, but now all eyes are on quarterly results from Microsoft Corp. and Meta Platforms Inc. on Wednesday, and Apple Inc. and Inc. on Thursday. The announcements will give investors a key glimpse into the health of businesses ranging from electronic devices and software to cloud-computing and e-commerce. A strong showing is critical to sustaining the S&P 500's rally. The four firms — members of the Magnificent Seven — account for a fifth of the market-capitalization-weighted benchmark. What's more, Meta and Microsoft are among the top three point gainers in the S&P this year, after Nvidia Corp. With valuations climbing, the focus will be not only on whether they beat estimates, but also on their outlook for the coming quarters. 'The bar is set pretty high,' said Michael Arone, chief investment strategist at State Street Investment Management. 'The Magnificent Seven in particular, they really need to deliver now to keep this momentum going.' So far, Corporate America appears to be taking President Donald Trump's tariffs in stride. With about a third of S&P 500 members having reported, roughly 82% have beaten profit forecasts, on track for the best quarter in about four years, data compiled by Bloomberg Intelligence show. The performance has helped lift the benchmark by about 2% since the cycle kicked off around two weeks ago. To be fair, analysts had slashed estimates over the past few months amid concerns about the impact of tariffs on consumer spending and profit margins. While Big-Tech projections have come down too, the surge in stock prices has kept expectations elevated. The Magnificent Seven, which also includes Nvidia, Alphabet Inc. and Tesla Inc., is projected to deliver combined year-over-year earnings growth of 16% in the second quarter, according to data compiled by BI. That's down from expectations of 19% at the end of March, before Trump announced his sweeping tariffs. Nvidia is the final member of the group to report, in late August. The S&P 500, meanwhile, is expected to show annual profit growth of 4.5%, down from the 7.5% projected in March. It's all amping up the pressure on Big Tech. Many of the companies may need to give rosy forecasts to justify valuations, according to Anthony Saglimbene, chief market strategist at Ameriprise Advisor Services. 'They're likely going to have to say that the rest of the year or the next quarter looks positive, either re-affirming guidance or even upping guidance,' he said. AI Divergence Some of Magnificent Seven have failed to live up to the moniker this year as artificial intelligence has again become the dominant theme separating winners from losers in the stock market. Meta, Microsoft and Nvidia account for nearly half of the S&P 500's gain this year, while shares of companies including Apple have weakened amid struggles with the technology. That divergence was on display last week, when Alphabet rose after reporting strong earnings growth, while a bleak outlook for electric-vehicle sales sent Tesla's stock tumbling. Investors will watch capital-spending plans particularly closely. Many companies have increased spending on AI infrastructure, which has made the makers of computing gear like Nvidia and Super Micro Computer Inc. some of the best-performing stocks of the year. All signs point to that continuing. In total, Microsoft, Alphabet, Amazon and Meta are projected to pump $317 billion into capital spending in their current fiscal years, with that figure rising to $350 billion in 2026, according to the average of analyst estimates compiled by Bloomberg. Awaiting Payoff Investors have rewarded such aggressive plans in recent months, especially Meta, shares of which have rallied about 22% this year. But ultimately, investors have to see the payoff, says Gabriela Santos, chief strategist for the Americas at JPMorgan Asset Management. 'Investors are becoming much more overt in saying, 'show me the money,'' she said. 'At these levels, especially for large-cap tech, we need to see monetization rather than a promise of monetization coming at some point down the line.' Magnificent Seven valuations have jumped from the depths of the tariff-induced selloff in April, but they still remain well below peak levels. The group is priced at 28 times projected profits, compared with a high of 34 in December while the S&P 500 is priced at 22 times. 'While Big Tech P/Es can look high on the surface, if you consider the growth and the high free cash flow and the strong return on invested capital, in many cases they're attractively priced,' said Tony DeSpirito, managing director and head of US fundamental equities at BlackRock. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Scottish Wind Farms Show How to Counter Nimby Opposition ©2025 Bloomberg L.P. Sign in to access your portfolio
