Political Quotes

“I thank Chairwoman Waters and her intelligent, hardworking staff for their leadership on this bill. I also thank my sister-in-service, Congresswoman Ayanna Pressley, for spearheading this package of bills, the Comprehensive CREDIT Act of 2020. A new decade, a new way, as our chairwoman would say. I am also proud that our package of bills before us today includes H.R. 3622, the Restoring Unfairly Impaired Credit and Protecting Consumers Act. We are all aware of how expensive medical bills are and how easily one sickness or accident can bring families to financial ruin. According to the Urban Institute, regardless of age, income, insurance status, or ethnicity, one in four individuals are at risk of losing their health, homes, credit standing, and financial security annually because of the harms of medical debt. The bill prohibits the reporting of medically necessary debt often incurred for seeking lifesaving treatment and protects the credit profile of those struggling with medical debt by stopping the credit reporting agency from reporting this debt for 1 year, twice the current practice. This bill also protects the survivors of financial abuse. A study by the Federal Trade Commission shows that 21 percent of consumers had verified errors in their credit report; 13 percent had errors that affected their credit scores; and 5 percent had errors serious enough to cause them to be denied or pay more for credit.…”