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Consumer Reporting Agencies Credit Reports Debt Collectors

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

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

Nevada Federal Court Declines to Decide at Summary Judgment Stage Whether Pre-Dispute Investigation Was Sufficient to Satisfy FCRA

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A federal district court judge in Nevada recently denied competing motions for summary judgment in a Fair Credit Reporting Act (FCRA) furnisher investigation case, demonstrating the challenges FCRA litigants often face in...more

Troutman Pepper

Federal Magistrate Recommends Dismissal of FDCPA and FCRA Case on Statute of Limitation and Reasonableness of Reporting Grounds

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On November 9, a magistrate judge in the Northern District of Georgia issued a Report & Recommendation to grant a motion to dismiss because the plaintiff’s Fair Debt Collection Practices Act (FDCPA) claims were time-barred...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 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

Hudson Cook, LLP

CFPB Bites of the Month - November Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...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

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