(The Epoch Times)—A federal judge in Texas has struck down a Biden-era rule that would have barred medical debt from appearing on credit reports.
In a July 11 order, U.S. District Judge Sean Jordan found that the Consumer Financial Protection Bureau (CFPB) overstepped its authority when in finalized the rule in January, two weeks before President Donald Trump was sworn in for a second term.
Under the Fair Credit Reporting Act, credit reporting agencies are allowed to include medical debt information in credit reports, provided the data is coded to conceal details such as the medical provider’s identity or the nature of the treatment. Creditors are permitted to consider this coded medical debt information when making lending decisions.
However, during the Biden administration, the CFPB issued a rule banning credit reporting agencies from reporting any medical debt information to creditors for credit determinations. The agency argued that medical debt is a poor indicator of a borrower’s creditworthiness and should not influence lending decisions.
Two trade associations—the Cornerstone Credit Union League and the Consumer Data Industry Association—sued the CFPB, contending that the medical debt rule exceeded the agency’s statutory authority and conflicted with the Fair Credit Reporting Act’s explicit allowance for the use of coded medical debt data.
After Trump took office, the CFPB under new leadership agreed with the plaintiffs that the medical debt rule was unlawful. Both sides proposed a consent judgment to vacate the rule entirely and send the matter back to the CFPB for further review.
Yet the proposed agreement faced opposition from several intervenors, including two individuals carrying medical debt and two advocacy groups. The individuals—a Texas truck driver with medical debt stemming from cancer treatment and a Washington, D.C., resident with debt incurred from his child’s medical care—argued that eliminating the rule would strip them of important protections. The advocacy organizations—the New Mexico Center on Law and Poverty and Tzedek DC—said repealing the rule would force them to divert scarce resources toward assisting clients with medical debt issues instead of other legal matters.
The judge, however, concluded that the proposed consent decree imposed no legal obligations on the intervenors and that they held no enforceable legal right to the rule itself. He ruled that the Fair Credit Reporting Act expressly allows credit reporting agencies to report coded medical debt information and that the CFBP’s rule had effectively rewritten federal law, exceeding the agency’s statutory authority.
“After full consideration of the parties’ arguments, Defendant-Intervenors’ objections, and the relevant law, the Court finds that the proposed consent judgment is fair, adequate, and reasonable,” the judge wrote in his opinion.
The Epoch Times has reached out to counsel for the intervenors for comment.
Under the Biden administration, the CFBP maintained that medical debt carries little predictive value regarding a borrower’s ability to repay other debts. The agency also cited concerns that medical debt listed on credit reports contributed to thousands of denied mortgage applications, even for borrowers otherwise capable of repayment.
“People who get sick shouldn’t have their financial future upended,” then-CFPB director Rohit Chopra said in a Jan. 7 statement. “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.”
In a 2022 report, the CFPB highlighted what it described as the “complicated and burdensome nature” of the U.S. medical billing system. The agency found that medical bills frequently stem from emergencies or unexpected events, are subject to opaque pricing, and involve complex insurance rules. Patients often do not learn the full costs until after receiving treatment and, particularly those with chronic illnesses or urgent health issues, may feel compelled to accept any charges to secure necessary care.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.