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Medical Debt Credit Bureaus

Orrick, Herrington & Sutcliffe LLP

Maine amends law to ban medical debt reporting to credit bureaus

On June 9, the governor of Maine approved LD 558, which prohibits medical creditors, debt collectors, and debt buyers from reporting consumer medical debt to consumer reporting agencies. The new law replaces previous...more

Balch & Bingham LLP

U.S. District Court Addresses Federal Preemption For State Credit Reporting Laws - Transcript

Balch & Bingham LLP on

Welcome to Balch's Consumer Finance Compass, where we navigate the complex regulatory sphere that is consumer finance. I'm Jason Tompkins, partner in the Consumer Finance Compliance and Defense Practice. Today we'll explore...more

Ballard Spahr LLP

CO and NY enact laws to prevent reporting of medical debt to credit bureaus

Ballard Spahr LLP on

Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged, in the past two years, Equifax,...more

Troutman Pepper Locke

Facing CFPB Criticism, Credit Bureaus Dramatically Reduce Medical Debt Credit Reporting

Troutman Pepper Locke on

On March 18, the three nationwide consumer reporting agencies — Equifax, Experian, and TransUnion (NCRAs) — announced plans to change how medical debt will be reported on credit reports. The joint measures will result in the...more

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