News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Medical Bills

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

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In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more

Goodwin

CFPB Proposes Rule to Ban Medical Debt from Credit Reports

Goodwin on

Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA), as to medical information and debt. This proposed rule...more

Hudson Cook, LLP

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

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In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

Troutman Pepper

General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

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In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical...more

Goodwin

2023 Year in Review: Credit Reporting

Goodwin on

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

Hudson Cook, LLP

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

Sheppard Mullin Richter & Hampton LLP

CFPB Initiates FCRA Rulemaking on Medical Debt and Data Brokers

On September 21, the CFPB announced that it has initiated a rulemaking process under the Fair Credit Reporting Act (“FCRA”) that would remove medical bills from consumer credit reports. The CFPB also published an Outline...more

Burr & Forman

CFPB Seeks to Remove Medical Bills from Credit Reports

Burr & Forman on

On September 21, 2023, the CFPB announced it is undertaking a rulemaking process to remove medical bill tradelines from consumer reports and prohibit creditors from relying on medical bills during underwriting....more

Ballard Spahr LLP

RFI Industry Commenters Urge CFPB to Stay in its Lane on Medical Debt Payments

Ballard Spahr LLP on

American Bankers Association (ABA), Association of Credit and Collection Professionals (ACA International), U.S. Chamber of Commerce (Chamber), Synchrony Bank (Synchrony), and National Consumer Law Center (NCLC) submitted...more

Clark Hill PLC

Speaking It Into Existence: A Deeper Dive Into the CFPB Hearing on Medical Billing and Payment Products

Clark Hill PLC on

On July 11, the Consumer Financial Protection Bureau (“CFPB”) held a hearing on issues surrounding medical debt and specifically, payment products. Not surprisingly, the invited experts and special guests taking part in the...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Goodwin

CFPB, U.S. Department of Health and Human Services, and U.S. Department of Treasury Initiate Public Inquiry into Financial...

Goodwin on

​​​​​​​On July 7, 2023, the Consumer Financial Protection Bureau (CFPB), U.S. Department of Health and Human Services (DOH), and U.S. Department of Treasury (DOT) initiated a public inquiry into certain financial products,...more

Orrick, Herrington & Sutcliffe LLP

CFPB holds hearing on medical billing and collections

On July 11, CFPB Director Rohit Chopra delivered prepared remarks at a public hearing on medical billing and collections. Chopra commented on the prevalence of medical debt in the country, which affects over 100 million...more

Venable LLP

Medical Payment Products Face Government Scrutiny

Venable LLP on

Multiple government agencies are scrutinizing medical payment products. On July 7, 2023, the Consumer Financial Protection Bureau (CFPB), U.S. Department of Health and Human Services (HHS), and U.S. Department of Treasury...more

Holland & Knight LLP

Holland & Knight Health Dose: July 11, 2023

Holland & Knight LLP on

Holland & Knight Health Dose is an in-depth weekly dose of legislative and regulatory insights to keep stakeholders abreast of happenings in Washington, D.C., impacting the health sector. ...more

Ballard Spahr LLP

CFPB to host hearing on medical billing and collections

Ballard Spahr LLP on

The CFPB announced that on July 11, 2023 it will host a hearing on medical billing and collections, with a focus on medical payment products, such as medical credit cards and installment loans. In addition to Director...more

Ballard Spahr LLP

CFPB report highlights problems military families have experienced with digital payment apps

Ballard Spahr LLP on

On June 20, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued its Office of Servicemember Affairs Annual Report, which analyzes consumer complaints received from servicemembers, veterans, and their families for...more

Goodwin

CFPB Issues Report Highlighting Risks of Medical Financing

Goodwin on

​​​​​​​On May 4, 2023, the CFPB issued a report titled Medical Credit Cards and Financing Plans (the “Report”) that summarized the new developments in medical financing and the associated risks with these products.  ...more

Troutman Pepper

Colorado AG Backs Increased Consumer Protections for Medical Transactions

Troutman Pepper on

Colorado Attorney General Phil Weiser recently released a press release, supporting new Senate Bill 23-093 called “Increase Consumer Protections Medical Transactions.” Specifically, the bill would reduce medical debt for...more

Troutman Pepper

CFPB Office of Servicemember Affairs Releases Annual Report

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The Consumer Financial Protection Bureau (CFPB) Office of Servicemember Affairs released its annual report, detailing over 17,000 complaints filed by servicemembers, veterans, and their families in 2021. The largest number of...more

Manatt, Phelps & Phillips, LLP

CFPB Will Enforce Laws Preventing the Collection/Reporting of Medical Debts Barred by the NSA

As part of the Biden administration’s focus on enforcement of the No Surprises Act (NSA), the Consumer Financial Protection Bureau (CFPB) has issued a bulletin (the Bulletin) indicating that it will closely review the...more

Manatt, Phelps & Phillips, LLP

[Webinar] Navigating the Challenges of Medical Debt Recovery - October 19th, 3:00 pm - 4:00 pm ET

With Medical Debt Hitting $140 Billion, Hospitals Are Taking Action. How Can You Maximize Collections While Minimizing Risks? Find Out at a New Manatt Webinar... New research published in the Journal of the American...more

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