Latest news with #SeanJordan
Mint
5 days ago
- Business
- Mint
Texas Google Antitrust Trial Delayed Pending Related DOJ Case
(Bloomberg) -- A judge delayed an Aug. 11 trial against Alphabet Inc.'s Google over claims by a Texas-led group of states that the company illegally monopolized the market for tools to publish online display advertisements. US District Judge Sean Jordan in Plano, Texas, will reschedule the trial after a related US Justice Department case is resolved. It's the second delay for the case, which was initially scheduled for late March. The case includes 15 other states and Puerto Rico. It is the second antitrust lawsuit to target Google's advertising technology and potentially force a sale of some of the business. The suit is also seeking more than $100 billion in civil penalties under various state antitrust and consumer protection laws. In April, a federal judge in Virginia largely ruled for the Justice Department and a separate group of states in their own antitrust case over Google's ad tech business, following a trial last year. US District Judge Leonie Brinkema found that Google illegally monopolized the market for software used by web publishers to sell ads and an exchange matching buyers and sellers of online ads. Brinkema has set a September hearing to determine a fix, which could include breaking up the company's ad tech business. The Texas trial will be scheduled after Brinkema's ruling. The two cases share many overlaps. Both argue that Google monopolized the market for display ads across the web by dominating all aspects of the sale of online ads. Both are seeking a break up of Google's ad tech business and arguing that past acquisitions by the company, including DoubleClick in 2008, should have been blocked by antitrust enforcers. Google is also facing a ruling in a separate Justice Department antitrust case that could force it to sell its popular Chrome web browser and make other changes to its search business. US District Judge Amit Mehta ruled in August 2024 that Google illegally monopolize the online search market and is now deciding on a remedy. More stories like this are available on
Bloomberg
5 days ago
- Business
- Bloomberg
Texas Google Antitrust Trial Delayed Pending Related DOJ Case
A judge delayed an Aug. 11 trial against Alphabet Inc. 's Google over claims by a Texas-led group of states that the company illegally monopolized the market for tools to publish online display advertisements. US District Judge Sean Jordan in Plano, Texas, will reschedule the trial after a related US Justice Department case is resolved. It's the second delay for the case, which was initially scheduled for late March.
Yahoo
5 days ago
- Business
- Yahoo
Texas Judge Blocks Biden-Era Rule Meant To Erase $49 Billion In Medical Debt From Credit Reports
A federal judge on Friday vacated a Biden-era rule that would have stripped medical debt from consumer credit reports, siding with credit-industry and Trump-administration arguments that regulators overreached. What Happened: According to a Reuters report, U.S. District Judge Sean Jordan said the Consumer Financial Protection Bureau rewrote the Fair Credit Reporting Act when it finalized the policy in January, a move he ruled exceeded the agency's authority. Trending; GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — His decision blocks a measure the CFPB estimated would erase about $49 billion in liabilities from the records of 15 million Americans and bar lenders from using medical data in loan decisions. The judge, a 2019 Donald Trump appointee, noted that Congress lets credit bureaus report coded medical debts and that federal law pre-empts stricter state limits. Experian, Equifax and TransUnion argued the rule would give lenders an incomplete picture of a borrower's ability to repay, even after they voluntarily stopped listing medical collections under $500 in 2022. "This is the right outcome for protecting the integrity of the system," Consumer Data Industry Association chief executive Dan Smith said. Why It Matters: The Biden administration adopted the ban after research showed medical bills, which include shocks from accidents or hospital stays, distort credit scores yet reveal little about long-term solvency. Roughly one in 12 adults carries at least $250 in unpaid medical debt. A CFPB statement in January called the measure a common-sense fix for families who would see scores rise by as much as 20 points. Consumer advocates condemned Friday's ruling and urged the White House to appeal, but the Justice Department has not defended the rule since the CFPB reversed course under President Trump. The policy's fate grew uncertain after that reversal, warning millions could still face higher borrowing costs. The now-vacated rule anchored a broader White House strategy that also steered Medicaid funds to North Carolina hospitals that forgave patient balances. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share Bezos' Favorite Real Estate Platform Launches A Way To Ride The Ongoing Private Credit Boom Photo Courtesy: Salma Bashir on Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Texas Judge Blocks Biden-Era Rule Meant To Erase $49 Billion In Medical Debt From Credit Reports originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
6 days ago
- Business
- Yahoo
Your credit score could be negatively impacted by this controversial court ruling about medical debt
Last Friday, a federal judge axed a Biden-era rule from the Consumer Financial Protection Bureau (CFPB) that would have prohibited consumer credit reporting agencies from including certain medical debts on consumer credit reports. The Platinum Card is about to change. Amex's new fast-format airport lounge might be a sneak preview GENIUS Act update: What's happening with the stablecoin crypto vote? Managers think employees should take a break from work—but they don't promote the ones who do The CFPB rule amended a Fair Credit Reporting Act (FCRA) regulatory exception that allowed creditors to obtain and use information on medical debts. The rule had been finalized shortly before the Biden administration left office and was set to take effect on March 15. However, legal challenges delayed its start date. The rule prohibited creditors from considering medical information when determining credit eligibility and restricted credit reporting agencies from including certain types of medical debt information in consumer credit reports. Medical debt will stay on credit reports On July 11, 2025, U.S. District Judge Sean Jordan of the Eastern District Court in Texas reversed the Biden-era rule. In his opinion, Jordan, a Trump appointee, said that the court found that rule exceeded the CFPB's authority under the FCRA. The federal lawsuit was filed on January 7, the same day the Biden-era rule had been finalized. In the legal complaint, the Cornerstone Credit Union League and the Consumer Data Industry Association asserted that the rule violated the law and that only Congress had the authority to make such changes. The Trump-era CFPB, along with acting director Russell Vought, joined the lawsuit on April 30, with the agency asking the court to vacate the rule. In response to the ruling, Senate Democrats led by Raphael Warnock of Georgia wrote a letter to Vought asking for an explanation about the reversal. 'Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer's ability to repay other debts,' the senators wrote. Fast Company reached out to CFPB for comment. Court order impacts millions of Americans with medical debt CFPB research found that a medical bill on a credit report isn't a good indicator of a person's ability to repay a loan. Research also showed that medical debt on credit reports contributed to mortgage application denials for loans that consumers would have been able to afford. In its January announcement, the CFPB stated that the rule would remove an estimated $49 billion in medical bills from credit reports and affect approximately 15 million Americans. It added that people with medical debt on their credit reports could see an average boost of 20 points on their score. However, now that the rule has been reversed, debt will remain on consumer credit reports, and creditors are still allowed to consider medical debt when making credit decisions. This post originally appeared at to get the Fast Company newsletter: 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
6 days ago
- Business
- Yahoo
Your medical bills will remain on your credit report after all
A federal judged has ruled medical debt can be included on people's credit reports. That overrules a Consumer Finance Protection Bureau edict made in January. Had medical debt been left off of credit reports, it was expected to result in the approval of roughly 22,000 additional mortgages each year. Right before President Joe Biden left office in January, the Consumer Finance Protection Bureau (CFPB) announced a new rule that would remove unpaid medical bills from the credit reports of Americans. Now, a federal judge has vacated that rule. Judge Sean Jordan of the US District Court of Texas' Eastern District found the CFPB exceeded its authority with the rule, citing the Fair Credit Reporting Act. Only Congress, he says, has the ability to write law. Two industry associations had filed suit against the rule. The Trump administration joined those suits after his second term began. Jordan was a Trump-appointed judge. The ruling is likely going to make it harder for many people to get a mortgage or other loan. The rule was expected to result in the approval of roughly 22,000 additional mortgages each year and would have raised the credit scores of people who are carrying medical debt by an average of 20 points. It would have removed $49 billion in medical bills from credit reports and prohibited lenders from factoring that type of debt in when making most loan decisions. 'People who get sick shouldn't have their financial future upended,' CFPB Director Rohit Chopra said when announcing the new rules. '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.' Medical debt often includes mistakes, which can artificially impact credit scores. The CFPB also says medial debt is not a good indicator of whether a person is able to pay other loans. Opponents said the practice would undermine the credit score process. This story was originally featured on 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
