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Consumer Reporting Agencies Regulation V Financial Regulatory Reform

Orrick, Herrington & Sutcliffe LLP

CFPB extends comment period on potential Regulation V amendments

On March 7, the CFPB announced a comment period extension for its advance NPRM addressing concerns related to information about coerced debt (i.e., where individuals are manipulated into incurring debt without their consent)...more

Troutman Pepper Locke

Trade Associations File Challenge to CFPB’s Rule on Medical Debt in Consumer Reports

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The Consumer Financial Protection Bureau (CFPB or Bureau) finalized a rule aimed at removing an estimated $49 billion in medical bills from the consumer reports of approximately 15 million Americans. This rule amends...more

Troutman Pepper Locke

CFPB Finalizes Rule to Remove Medical Bills from Consumer Reports

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On January 7, the Consumer Financial Protection Bureau (CFPB or Bureau) finalized its rule aimed at removing an estimated $49 billion in medical bills from the consumer reports of approximately 15 million Americans....more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 53: Expanding the FCRA to Data Brokers

RegFi Co-Hosts Jerry Buckley, Sherry Safchuk and Sasha Leonhardt explore the implications of the CFPB’s recently proposed amendments to Regulation V that would apply the Fair Credit Reporting Act to data brokers. The...more

Troutman Pepper Locke

CFPB Initiates FCRA Rulemaking to Address Coerced Debt

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On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more

Troutman Pepper Locke

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

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On October 1, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion aimed at debt collectors and emphasizing their obligations under the Fair Debt Collection Practices Act (FDCPA) and Regulation...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

Ballard Spahr LLP on

The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Troutman Pepper Locke

CFPB Proposed Rule Banning Reporting of Medical Debt

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On June 11, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical debt. The proposed rule would...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Orrick, Herrington & Sutcliffe LLP

CFPB receives FCRA rulemaking petition on debt collection

On March 3, the CFPB received a rulemaking petition from the National Consumer Law Center (NCLC) in response to forthcoming FCRA rulemaking announced in the Bureau’s Fall 2022 regulatory agenda. As previously covered by...more

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