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Trump CFPB Reverses Credit Rules, Preempts State Laws

Published 19 hours ago

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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.

Trump Consumer Financial Protection Bureau

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.

Common Dreams

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.