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Consumer Reporting Agencies Credit Reports Debt Collection

Ballard Spahr LLP

Chopra says CFPB finalizing medical debt rule; agency issues advisory opinion on debt collector practices

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The CFPB is in the process of completing its final rule intended to ban the inclusion of medical debts in credit reports, bureau Director Rohit Chopra said at a White House session intended to focus on practices in the...more

Ballard Spahr LLP

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

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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

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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

Troutman Pepper

CFPB Issues Findings on Recent Changes in Medical Collections on Consumer Reports

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Earlier this week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its second report detailing changes in the credit reporting of medical debts made by the three national consumer reporting agencies (CRAs)...more

Troutman Pepper

Resolving FCRA Disputes With e-OSCAR: Insights from Joel Strickland — FCRA Focus Podcast

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In this episode of Troutman Pepper's FCRA Focus podcast, host Kim Phan delves into the topic of dispute resolution through the e-OSCAR system with special guest, Joel Strickland, the director of customer success at e-OSCAR....more

Ballard Spahr LLP

CFPB Publishes Consumer Response Annual Report

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The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

Fox Rothschild LLP

The CFPB Considers Rules to Remove Medical Debt from Credit Reports: What does this Mean for Medical and Dental Providers?

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Last month, the Consumer Financial Protection Bureau (CFPB) kicked off a rulemaking process that, if enacted, would reshape the credit reporting and debt collection landscape and could have a detrimental effect on medical and...more

Orrick, Herrington & Sutcliffe LLP

CFPB finds 33 percent decline in collections tradelines on credit reports

On February 14, the CFPB released a report examining debt collection credit reporting trends from 2018 to 2022. The Bureau’s report, Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting, is based on...more

Ballard Spahr LLP

CFPB looks at connection between financial assistance for medical care and medical collections

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In a blog post published last week, the CFPB looked at the connection between eligibility for financial assistance under policies mandated by the Affordable Care Act (ACA) and medical collections.  The ACA requires nonprofit...more

Troutman Pepper

CFPB Analyzes Potential Impact of Changes in Medical Debt Credit Reporting

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On March 1, the Consumer Financial Protection Bureau (CFPB) released a report highlighting the effect of medical collections on consumer credit reports. The CFPB found that medical collections tradelines appeared on 43...more

Ruder Ware

Significant Changes to Medical Collection Debt Reporting: How Might it Affect Business?

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In March of this year, the three major nationwide credit reporting agencies (Equifax, Experian, and TransUnion) announced there would be substantial changes to medical collection debt reporting coming this summer in an effort...more

Ballard Spahr LLP

CFPB issues report on consumer complaints involving medical debt; Biden Administration announces actions relating to medical debt

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Just a little more than a month after issuing a report taking aim at medical debt collections, the CFPB has issued a new report on “Medical billing and collection issues described in consumer complaints.”...more

Ballard Spahr LLP

CFPB Deputy Director Martinez invites discussion of payday payment plans and credit reporting of medical debts

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Last week, CFPB Deputy Director Zixta Martinez provided the opening remarks at the CFPB’s Academic Research Council meeting. In her remarks, Martinez emphasized the CFPB’s role as a data-driven agency and welcomed further...more

Troutman Pepper

White House Signals Strong Consumer Protections in Medical Debt

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On April 11, the White House published a fact sheet, outlining the Biden administration’s actions to lessen the burden of medical debt and increase consumer protection. The plan includes four focus areas...more

Troutman Pepper

Factually v. Legally Inaccurate Information, The Difference Matters: Court Rejects FCRA Claims Based on Disputed Legal Issue

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On January 21, 2021, the United States District Court for the Northern District of Illinois granted TransUnion Data Solutions LLC’s (Trans Union) motion for judgment on the pleadings, denying Blue Sobenes’ (Sobenes) claims...more

Hudson Cook, LLP

Servicing Customers Affected by Natural Disasters: Tips for Unsecured and Personal Property Secured Creditors to Prepare for the...

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Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more

Ballard Spahr LLP

CFPB issues report on tradeline reporting by third-party debt collectors

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The CFPB has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies.  The third-party collector tradelines consist of those...more

Bradley Arant Boult Cummings LLP

Student Loan Servicers Still Looking for Clarification on Reporting Obligations

There is surprisingly little guidance for student loan servicers when it comes to credit reporting. The only recent guidance directed at loan servicers came by way of an announcement from the U.S. Departments of Education and...more

Ballard Spahr LLP

CFPB May 2016 complaint report highlights credit reporting complaints, complaints from New Mexico consumers

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The CFPB has issued its May 2016 complaint report which highlights complaints about credit reporting  and complaints from consumers in New Mexico and the Albuquerque metro area.  The CFPB began taking complaints about credit...more

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