Editor:
Eleven years ago, I had a friend who had over $165,000 in medical bills due to experience with cancer in her leg. Because of this overwhelming debt, the bill was never-ending and her credit rating was in the dumper, thus preventing home ownership. Her endeavor was both physically
and financially crippling. I have since lost track of her, but I hope she took advantage of the Consumer Financial Protection Bureau’s rule banning medical debt from credit reports.
Now the CFPB has been ordered to halt all its consumer protection work. This threatens vital protections for families and the $21 billion the agency has recovered for consumers since its creation. Without the CFPB’s oversight, countless other citizens in our community could see their financial security jeopardized by circumstances beyond their control – the CFPB estimates that 22,000 new mortgages would be approved each year if medical debt was removed from credit reports.
I urge our representatives to stand up for their constituents and protect the CFPB’s ability to do its job. We can’t afford to let predatory financial practices harm our most vulnerable neighbors.
Dorrie Board
Lebanon