2024 Credit Reporting Review: Impactful Changes and Future Forecast — FCRA Focus Podcast
Podcast - The CFPB's Effort to Remove Medical Debt from Credit Reports
Navigating Hot Topics in Consumer Finance: Litigation Trends, Regulatory Changes, and Medical Debt Collection – The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: Should Medical Debt Be Included in Creditworthiness Measures?
Keeping Up With the Bureau Episode 3: Evolving Federal and State Requirements for Furnishers and Users of Consumer Reports - The Consumer Finance Podcast
Earlier this month, the United States District Court for the Eastern District of Texas approved a consent judgment vacating the Consumer Financial Protection Bureau’s (CFPB) Medical Debt Rule. The decision holds that the CFPB...more
On June 26, Rhode Island Governor Dan McKee signed companion bills S 0169 and S 0172 into law, twin measures that amend the state’s Deceptive Trade Practices Act and Interest and Usury statute to impose some of the nation’s...more
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
In this episode of FCRA Focus, host Dave Gettings is joined by Cindy Hanson, Scott Kelly, and Tim St. George, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the most impactful...more
Republican senators have introduced a Congressional Review Act resolution to nullify the rule that bans banks and credit unions from including medical debt on credit reports and generally prohibits the use of medical...more
On March 3, a trio of credit reporting agencies (defendants) moved to dismiss a plaintiff’s second amended complaint filed in the U.S. District Court for the Eastern District of California. The defendants faced allegations...more
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
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
The CFPB recently issued a blog post, highlighting debt collection impacts on surviving spouses. In the blog, the CFPB warns that debt collectors who try to collect on a spouse’s medical bills from a survivor, who is not...more
The Consumer Financial Protection Bureau (“CFPB”) is poised to take medical debt off the table for creditors when evaluating a consumer’s eligibility for credit. As it is currently enacted, Regulation V of the Fair Credit...more
On June 11, the CFPB released a proposed rule to ban obtaining or using medical information for credit eligibility determinations. Specifically, the proposed rule would amend the FCRA to remove the medical financial...more
On June 11, the CFPB announced a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act, to alter the treatment of medical debts in credit reporting. The rule proposes to remove medical bills from...more
On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit,...more
On April 2, the California Senate Judicial Committee passed Senate Bill 1061. The bill seeks to prevent health care providers and contracted collection agencies from providing information about patients’ medical debt to...more
Welcome to the Credit Reporting chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB’s announcement of a proposed rulemaking to remove medical bills from...more
The CFPB announced last week that it has entered into a consent order with Commonwealth Financial Systems, Inc. (Commonwealth), a third-party debt collection company that collects past-due medical debts and furnishes...more
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
The Consumer Financial Protection Bureau (CFPB) is currently considering a rulemaking to address various consumer reporting topics under the Fair Credit Reporting Act (FCRA) and has released an Outline of Proposals and...more
The Consumer Financial Protection Bureau (CFPB) is moving forward with a rulemaking proposal to change the process of reporting medical debt on consumer credit reports. Specifically, the rulemaking proposal the Bureau...more
Please join Consumer Financial Services Partner Ethan Ostroff and his guests and colleagues Alan Wingfield, Chris Capurso, and Derek Schwahn in the third episode of a special four-part series on recent developments with the...more
A New Student Loan Company is Now Taking Over the Accounts of Public Servants Seeking Debt Cancellation "This also comes as borrowers have 4 months left to apply for extended student-loan relief." Why this is important:...more
Medical service providers who engage in medical billing, debt collection, and credit reporting are the focus of new regulations and regulatory enforcement efforts. Civil litigation is sure to follow. Under the direction of...more
On March 11, U.S. Representative Patrick McHenry (R-NC) reintroduced a bill to amend the Fair Credit Reporting Act (FCRA). H.R. 1645, the Protecting Consumer Access to Credit Act, would remove from a consumer’s credit report...more
A Maine federal district court ruled that that two 2019 amendments to Maine’s credit reporting law are preempted by the federal Fair Credit Reporting Act and granted the motion for judgment filed by the plaintiff, the...more
The New York Attorney General announced a settlement with credit bureaus Equifax, Experian and TransUnion regarding credit reporting policies and practices, including methods of addressing inaccuracies identified by...more