News & Analysis as of

Credit Reporting Agencies Final Rules

Ballard Spahr LLP

CFPB, industry groups ask Federal Judge to kill bureau medical debt rule

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The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes rule to remove medical bills from credit reports and prohibit lenders from considering medical information

On January 7, the CFPB issued a final rule amending Regulation V. Among other things, the final rule prohibits credit reporting companies from including medical bills on credit reports sent to lenders and prohibits lenders...more

Cozen O'Connor

CFPB Finalizes Rule to Limit Impact of Medical Debt on Credit Reporting

Cozen O'Connor on

The CFPB has finalized a rule amending regulations under the Fair Credit Reporting Act to address the use and reporting of medical information in credit decisions. The Prohibition on Creditors and Consumer Reporting Agencies...more

McDermott Will & Emery

Update for Employers Regarding Changes to Background Check Summary of Rights Form Coming Soon

The Consumer Financial Protection Bureau (CFPB) recently released an updated version of the “A Summary of Your Rights Under the Fair Credit Reporting Act” notice to job applicants and employees required in connection with...more

Goodwin

CFPB Issues Report Highlighting Medical Bills on Credit Reports

Goodwin on

On March 1, 2022, the Consumer Financial Protection Bureau (CFPB) issued a report titled Medical Debt Burden in the United States (Report) highlighting the complicated and burdensome nature of the medical billing system in...more

Ballard Spahr LLP

The CFPB’s final collections rule: impact on credit reporting

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This latest installment of our blog posts about the CFPB debt collection rule examines how the final rule will impact credit reporting....more

Ballard Spahr LLP

FTC issues final rule on free credit monitoring service for military

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The FTC has issued a final rule to implement a 2018 amendment to the FCRA made by the Economic Growth, Regulatory Relief, and Consumer Protection Act that requires nationwide consumer reporting agencies  (CRAs) to provide...more

White and Williams LLP

New York’s Cyber Regulations Now Apply to Credit Reporting Agencies

On June 25, 2018, the New York Department of Financial Services (NYDFS) issued a final regulation that requires any credit reporting agency (CRA) with “significant operations” in New York to register with the NYDFS and comply...more

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