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For Immediate Release
July, 25 2017, 08:30am EDT
Contact:
Abby Wilhelm, abby@jubileeusa.org, 202 783-3566
Congress Could Repeal Consumer Protection Bank and Credit Card Rule
The House could vote to repeal regulations designed to help consumers take joint legal action against banks and lending companies. Last week, measures were introduced in the House and Senate to repeal a new "arbitration" rule created by the Consumer Financial Protection Bureau.
Eric LeCompte, Executive Director of Jubilee USA, a religious coalition that advocates for banks and lending institutions to be more transparent, releases the following statement:
WASHINGTON
The House could vote to repeal regulations designed to help consumers take joint legal action against banks and lending companies. Last week, measures were introduced in the House and Senate to repeal a new "arbitration" rule created by the Consumer Financial Protection Bureau.
Eric LeCompte, Executive Director of Jubilee USA, a religious coalition that advocates for banks and lending institutions to be more transparent, releases the following statement:
"When we are wronged by financial institutions, we need to be able to hold them accountable.
"Beyond the consumer protections the new rule delivers, the rule pushes banks and credit cards to be more transparent because these businesses don't want to be subject to consumer collective actions lawsuits."
"It's a mistake for Congress to repeal these consumer protections."
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
(202) 783-3566LATEST NEWS
'It's Very MAGA!' Inflation Ticks Up as Trump Tariffs Push Consumer Prices Higher
"Today's inflation report confirms what we already knew: Trump's tariffs are a tax on working-class Americans and additional tariffs would hurt them even more."
Jul 15, 2025
Inflation figures released Tuesday by the U.S. Bureau of Labor Statistics offered what economists described as early evidence that President Donald Trump's erratic tariff policies are driving up prices across the nation's economy, from household appliances to groceries to apparel.
The Consumer Price Index (CPI) rose 2.7% in June compared to the previous year, according to the new data—the highest reading since February. Separate figures released by the Labor Department showed that real wages declined slightly in June, underscoring the impact of rising prices.
"Trump's Big Beautiful tariffs are showing up in the data," wrote Dean Baker, a senior economist at the Center for Economic and Policy Research. "It's very MAGA!"
Baker highlighted coffee prices—which were up 2.2% in June—and noted that "prices will go much higher if Trump carries through with his threat of a 50% tax on coffee imported from Brazil because they are prosecuting someone for trying to overthrow the government."
According to the Labor Department, the "food at home" index—which tracks grocery costs—rose 0.3% in June and is up 2.4% compared to a year earlier. Beef and ice cream prices rose to record highs last month, and toys, shoes, and other categories also registered increases.
"The impact of tariffs is becoming more salient," said Ernie Tedeschi, director of economics at Yale University's Budget Lab. "Apparel, which had seen cool inflation the last two months, grew 0.4% in June. Household furnishings grew 1%. Video and audio electronics grew 1.1%."
Leor Tal, campaign director at the progressive advocacy coalition Unrig Our Economy, said in a statement that "today's inflation report confirms what we already knew: Trump's tariffs are a tax on working-class Americans and additional tariffs would hurt them even more."
"Republicans in Congress should intervene and put a stop to this, but so far they've just doubled down on policies that line the pockets of the ultra-rich while hurting hardworking families," said Tal.
"President Trump promised to bring prices down. Instead, he and Republicans have made things worse."
Democratic lawmakers immediately seized on the new government data as proof that, despite his campaign promises, Trump's agenda is driving up costs for American consumers—a problem that they said will intensify if the president follows through on the tariff threats he recently leveled at the European Union and other U.S. trading partners.
"For those saying we have not seen the impact of Trump's tariff wars, look at today's data," Sen. Elizabeth Warren (D-Mass.) said in a statement. "Americans continue to struggle with the costs of groceries and rent—and now prices of food and appliances are rising."
"Trump has announced even more tariffs, including 50% on Brazil and 30% on the European Union," Warren added. "Families were already getting crushed, and the president's making it worse."
Rep. Brendan Boyle (D-Pa.), the top Democrat on the House Budget Committee, warned that the Republican budget measure that Trump signed into law earlier this month—which includes trillions of dollars in tax cuts primarily for the wealthy and historic cuts to Medicaid and food assistance—"will raise costs even further, on everything from groceries to healthcare, all while showering billionaires with tax breaks."
"President Trump promised to bring prices down. Instead, he and Republicans have made things worse," said Boyle. "American families are already struggling, and they simply can't afford another round of this president's lies and his reckless economic policies."
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Trump-Appointed Judge Strikes Down CFPB Rule That Would Bar Medical Debt From Credit Reports
"This decision will hurt people's financial futures, including their ability to buy a home, care for their families, or even get a job," said the president and CEO of the nonprofit Undue Medical Debt.
Jul 15, 2025
A Trump-appointed judge axed a Biden-era rule on Friday that would have removed medical debt from credit reports and barred lenders from using certain medical information in loan decisions.
The rule, enacted under the authority of the Fair Credit Reporting Act, would have removed an estimated $49 billion in medical bills from the credit reports of about 15 million people.
But after a lawsuit brought by two industry groups with the support of Republicans in Congress who attempted to block it, Judge Sean Jordan of the U.S. District Court of Texas' Eastern District ruled that the Consumer Financial Protection Bureau (CFPB) had exceeded its authority in introducing the rule.
According to the CFPB, those with medical debt on their credit reports would have received a 20-point boost to their credit scores on average as a result of the rule. It would have led to an estimated 22,000 more mortgages being approved for people struggling with medical debt.
According to a report by the Peterson Center on Healthcare and KFF last year, roughly 1 in 12 adults has over $250 in unpaid medical debt.
"People who get sick shouldn't have their financial future upended," said CFPB Director Rohit Chopra at the time of the rule's passage in January 2025. "The CFPB's final rule will close a special carveout that has allowed debt collectors to abuse the credit reporting system to coerce people into paying medical bills they may not even owe."
The consumer reports industry lobbied furiously against the measure. Two industry groups—the Consumer Data Industry Association and the Cornerstone Credit Union League—brought the lawsuit before Judge Jordan. Meanwhile, reporting from Accountable.US in March revealed that Republicans on the House Financial Services Committee accepted a combined $867,000 from trade groups opposed to the rule.
Using the same talking points as the industry, they then attempted to block the rule, arguing that it would "weaken the accuracy and completeness of consumer credit reports."
However, according to research by the CFPB, medical debt on credit reports often has no bearing on a person's ability to pay back other loans.
Medical bills also frequently contain mistakes. According to a survey by the Commonwealth Fund last year, more than 45% of respondents were billed for a service they thought was covered by insurance. The trade magazine Becker’s Hospital Review, meanwhile, has estimated that 80% of medical bills contain errors that inflate costs.
"Medical debt unjustly damages the credit scores of millions, limiting their ability to obtain affordable credit, rent safe housing, or even get a job," said the National Consumer Law Center after the rule was introduced.
Now, as a result of its being struck down, the 15 million Americans who have medical debt on their credit reports will see an average of $3,200 remaining on their reports that would have otherwise been erased.
"The facts are clear: Medical debt is not predictive of creditworthiness," said Allison Sesso, the president and CEO of the nonprofit Undue Medical Debt, on Monday. "This decision will hurt people’s financial futures, including their ability to buy a home, care for their families, or even get a job—all because they got sick, injured, or were born with a chronic condition through no fault of their own. It will also further decrease their willingness to get the care they need."
The ruling also marks the latest attack by Republicans on the CFPB. In February, the Trump administration attempted to unilaterally and illegally shut down the consumer watchdog agency. His effort to dismantle it was later blocked by a federal judge.
Since its creation in 2011, the CFPB has relieved $21 billion worth of debt for nearly 200 million Americans. It recouped that money from powerful financial institutions and credit card companies that had engaged in predatory practices and saddled Americans with junk fees.
But by cracking down on corporate abuses, it became the bane of Republican lawmakers and their corporate donors. Many top Trump donors sought to kill the CFPB because it was coming after the actions of their companies.
Elon Musk's company Tesla was facing scrutiny over its auto loan policies, which had received hundreds of complaints from customers. His social media company, X, was also being examined for its payment policies.
Another top Trump donor, investor Marc Andreesen, launched a broadside against the bureau when it ordered a payday lending company he'd invested in to pay tens of millions worth of fines for engaging in predatory lending.
"Judge Sean Jordan, a Trump-appointed judge, joined congressional Republicans in making it easier for the Trump administration to raise costs on millions of Americans," said Accountable.US executive director Tony Carrk.
"Not only are they dismantling healthcare for 17 million through their big, ugly betrayal, but they're dooming millions more with low credit scores due to illness and injury," he continued. "Republicans are holding a grudge against the CFPB, and it's costing Americans money."
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'More Corruption and Abuse' on the Way as Bondi Fires DOJ Ethics Chief
"The question this drastic firing raises is: Are there even worse ethics problems Bondi is trying to hide?" said one watchdog campaigner.
Jul 15, 2025
Further escalating concerns over U.S. Attorney General Pam Bondi's control of the Department of Justice, Joseph Tirrell announced Monday on a professional networking website that he was fired as director of the Departmental Ethics Office.
Tirrell shared Bondi's July 11 memo, which misspells his first name and provides no explanation for his dismissal from the DOJ. It states that "pursuant to Article II of the United States Constitution and the laws of the United States, your employment with the Department of Justice is hereby terminated, and you are removed from federal service effective immediately."
Democracy Docket reporter Jacob Knutson noted that "Trump officials have repeatedly referenced Article II to make broad assertions of presidential authority and to justify dismissing federal workers who traditionally have been shielded by civil service protections."
Tirrell wrote in his LinkedIn post that "I led a small, dedicated team of professionals and coordinated the work of some 30 other full-time ethics officials, attorneys, paralegals, and other specialists across the Department of Justice, ensuring that the 117,000 department employees were properly advised on and supported in how to follow the federal employee ethics rules."
Bloomberg had reported on Tirrell's ouster Sunday, and both he and the DOJ had declined to comment. The outlet pointed out that "his portfolio included reviewing and approving financial disclosures, recusals, waivers to conflicts of interest, and advice on travel and gifts for Bondi, Deputy Attorney General Todd Blanche, FBI Director Kash Patel, and other DOJ leaders."
Jon Golinger, democracy advocate at the government watchdog Public Citizen, said in a Monday statement that "Bondi's sudden firing of the DOJ ethics adviser shines a bright spotlight back on her own glaring ethical conflicts and how she's handled major DOJ decisions involving her former clients like Qatar and Pfizer."
According to Golinger, "The question this drastic firing raises is: Are there even worse ethics problems Bondi is trying to hide?"
As Bloomberg also detailed:
Tirrell's removal is separate—but potentially related—to the roughly 20 employees involved in Special Counsel Jack Smith's investigations, according to numerous media reports, were also fired July 11.
Tirrell advised Smith's office on ethics matters during his criminal prosecutions of President Donald Trump, said the sources, who spoke on condition of anonymity to share a sensitive personnel matter. That includes Tirrell approving Smith's receipt of $140,000 in pro bono legal fees from Covington & Burling that he disclosed upon concluding his investigation.
The Not Above the Law coalition's co-chairs—Brett Edkins of Stand Up America, Praveen Fernandes of the Constitutional Accountability Center, Lisa Gilbert of Public Citizen, and Kelsey Herbert of MoveOn—said in a Monday statement that "by firing her ethics chief, Pam Bondi is making it clear she answers to Trump and no one else."
"This is the latest move in an alarming pattern of dismantling oversight and erasing accountability from the Department of Justice. Bondi is purging anyone who dares act as a check on executive power to pave the way for more corruption and abuse," the co-chairs continued. "Bondi may be the one who made this latest call, but this administration's culture of corruption starts at the top."
They added that "whether it's using the presidential bully pulpit to raise allies' stock prices, giving special access to Trump meme coin investors, or firing 17 agency inspectors general to stymie government oversight, Trump seems to have perfected the art of using public office for personal profit, and he, Bondi, and everyone else are ensuring that nobody dares lift a finger to stop them."
Under Trump and Bondi, thousands of employees have left the DOJ. CBS News reported last month that the department lost 4,000 workers as part of the Trump administration's "fork in the road" deferred resignation program, and Reuters revealed Monday that 69 of the roughly 110 lawyers in the Federal Programs Branch—which defends the president's policies in court—have quit the unit or announced plans to resign since his November election.
Bondi has been accused of "serious professional misconduct that threatens the rule of law and the administration of justice," including with her day-one memo directing all DOJ employees to "zealously defend" Trump's policies, and has recently faced sharp criticism for the department's handling of documents related to the late financier and convicted sex offender Jeffrey Epstein.
In a clear sign of congressional Republicans' unwillingness to hold the Trump administration accountable, GOP members of the U.S. House Rules Committee late Monday blocked an amendment that would have forced the DOJ to release the full Epstein files to the public.
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