News & Analysis as of

Debt Collection Final Rules

Orrick, Herrington & Sutcliffe LLP

NYC’s amended debt collection rules effective this October

Recently, the NYC Department of Consumer and Worker Protection (DCWP) published an FAQ document providing guidance on amended rules for debt collectors, set to become effective on October 1. As previously covered by...more

Orrick, Herrington & Sutcliffe LLP

CFPB to revoke its medical debt advisory opinion

On April 11, the CFPB stated in a court filing that it plans to revoke its advisory opinion on medical debt collection from October 1, 2024. The filing was a motion to the U.S. District Court for the District of Columbia and...more

Sheppard Mullin Richter & Hampton LLP

DFPI Finalizes Debt Collection Licensing Regulations, Effective July 1

On March 4, the California DFPI finalized regulations under the Debt Collection Licensing Act (DCLA). The final regulations, which take effect July 1, 2025, clarify key licensing and reporting requirements....more

Sheppard Mullin Richter & Hampton LLP

GOP Senators Moving to Invoke the Congressional Review Act Over Biden-Era Rules

The CFPB is facing pushback from the U.S. Senate over two final rules issued under the Biden administration: one expanding oversight of nonbank digital payment providers and another limiting the reporting of medical debt....more

Orrick, Herrington & Sutcliffe LLP

Court stays a medical debt credit reporting case against CFPB

On February 13, the U.S. District Court for the Southern District of Texas stayed a lawsuit against the CFPB regarding the CFPB’s medical debt reporting final rule. The final rule, which the CFPB finalized in early January,...more

Sheppard Mullin Richter & Hampton LLP

Texas Federal Court Pauses CFPB Rule Banning Medical Debt from Credit Reports

On February 6, a judge for the United District Court for the Eastern District of Texas issued a 90-day stay on the CFPB’s final rule prohibiting the inclusion of medical debt in consumer credit reports, delaying the rule’s...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Debt Collection

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In this article, we share a timeline of our monthly "bites" for 2024 applicable to debt collection practices. Like 2023, the theme of 2024 was medical debt collection....more

Troutman Pepper Locke

CFPB Continues “Pausing” Litigation: This Time in Medical Debt Rule Litigation

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The Consumer Financial Protection Bureau (CFPB or Bureau) requested and was granted a 90-day stay in the litigation involving trade associations Cornerstone Credit Union League (Cornerstone) and the Consumer Data Industry...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Announced Another Delay to the Effective Date for its Final Rules...

In January 2025, the New York City Department of Consumer and Worker Protection (DCWP) issued a Notice of Change of Effective Date (Notice), further delaying the effective date for the final rules relating to debt collectors...more

Troutman Pepper Locke

NYC DCWP Further Delays Effective Date of Amended Debt Collection Rules

Troutman Pepper Locke on

In our previous post, we discussed the New York City Department of Consumer and Worker Protection’s (NYC DCWP) decision to delay the enforcement of the amended debt collection rules from December 1, 2024, to April 1, 2025....more

Troutman Pepper Locke

CFPB Rescinds 2020 Advisory Opinion on Earned Wage Access Products

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As part of a flurry of last minute regulatory activity by the Biden administration’s Consumer Financial Protection Bureau (CFPB or Bureau), on January 15, the CFPB published an advisory opinion in the Federal Register...more

Epstein Becker & Green

CFPB’s Recent Rule Eliminates Medical Debt from Credit Reports

Epstein Becker & Green on

On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) published a final Rule (the “Rule”) that prohibits consumer reporting agencies from including individuals’ medical debt on consumer credit reports....more

Orrick, Herrington & Sutcliffe LLP

2nd challenge to CFPB medical debt reporting rule filed in Texas

On January 8, a complaint was filed in the U.S. District Court for the Southern District of Texas challenging the CFPB’s newly finalized medical debt rule that restricts credit reporting agencies from including medical debt...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes rule to remove medical bills from credit reports and prohibit lenders from considering medical information

On January 7, the CFPB issued a final rule amending Regulation V. Among other things, the final rule prohibits credit reporting companies from including medical bills on credit reports sent to lenders and prohibits lenders...more

Sheppard Mullin Richter & Hampton LLP

CFPB Finalizes Rule Removing Medical Bills from Credit Reports

On January 7, 2025, the CFPB announced the finalization of a rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., to prohibit the inclusion of medical bills on credit...more

Cooley LLP

CFPB Finalizes Rule Curbing Use and Reporting of Medical Debt

Cooley LLP on

On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) issued a final rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit, and...more

Orrick, Herrington & Sutcliffe LLP

Industry associations seek to halt CFPB’s medical debt credit reporting rule

On January 7, two plaintiffs representing industry associations filed a complaint in the U.S. District Court for the Eastern District of Texas against the CFPB and its Director, Rohit Chopra, to challenge a CFPB final rule...more

Ballard Spahr LLP

CFPB issues medical debt rule; regulation immediately challenged in federal court

Ballard Spahr LLP on

The CFPB has issued its  final rule that will prohibit the inclusion of medical debts in credit reports lenders use to make credit decisions and that will also generally prohibit lenders from using medical debt information in...more

Cozen O'Connor

CFPB Finalizes Rule to Limit Impact of Medical Debt on Credit Reporting

Cozen O'Connor on

The CFPB has finalized a rule amending regulations under the Fair Credit Reporting Act to address the use and reporting of medical information in credit decisions. The Prohibition on Creditors and Consumer Reporting Agencies...more

Troutman Pepper Locke

CFPB Finalizes Rule to Remove Medical Bills from Consumer Reports

Troutman Pepper Locke on

On January 7, the Consumer Financial Protection Bureau (CFPB or Bureau) finalized its rule aimed at removing an estimated $49 billion in medical bills from the consumer reports of approximately 15 million Americans....more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter – December 2024 # 3

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Proposes Amendments to its Definition of "Debt Collector"

In November 2024, the New York City Department of Consumer and Worker Protection (DCWP) proposed additional amendments to its rules relating to debt collectors to clarify the definition of a "debt collector."...more

Sheppard Mullin Richter & Hampton LLP

CFPB Finalizes Personal Financial Data Rights Rule

On October 22, the CFPB announced the finalization of its Personal Financial Data Rights Rule under Section 1033 of the Dodd-Frank Act. The rule aims to bring the U.S. closer to an “open banking” framework by making it easier...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2024

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 #4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

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