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Consumer Financial Protection Bureau (CFPB) Regulatory Agenda Credit Reports

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

Ballard Spahr LLP on

The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Troutman Pepper

Illinois Passes Legislation to Ban Reporting of Medical Debt

Troutman Pepper on

On May 16, the Illinois legislature passed Senate Bill (SB) 2933. The bill amends the Illinois Consumer Fraud and Deceptive Business Practices Act making it unlawful for a consumer reporting agency (CRA) to create a consumer...more

Jones Day

CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

Jones Day on

On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....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

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