Important Update: CFPB Proposed Rule on Medical Debt Reporting

Today, the Consumer Financial Protection Bureau (CFPB) published a Proposed Rule that could drastically limit creditors’ ability to obtain information about medical debt. This rule would also significantly restrict consumer reporting agencies from disclosing medical debt information to creditors during credit inquiries.

Key Points:

• If this rule passes, medical debt information will only be disclosed under very limited circumstances.
• This could change the way medical debt impacts patients’ credit.

Have thoughts on this Proposed Rule? Make your voice heard by submitting a comment! Visit www.regulations.gov and search for RIN 3170–AA54.

Read the Proposed Rule here: https://www.federalregister.gov/d/2024-13208

If you have any questions, please get in touch with us at PWW|AG.