Selected Resources About Medical Lending Products
CFPB Resources: Community Catalyst Resources: NCLC Resources: Other Resources:
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What States Can Do: Medical Credit Cards and Other Medical Lending Products
Medical bills often end up on credit cards, including medical credit cards and other medical lending products. These products are marketed specifically to pay for medical expenses and are typically offered directly by health care providers, particularly dentists. Patients used cards or loans with deferred interest terms to pay for almost $23 billion in healthcare…
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NCLC Comments Supporting CFPB Proposal to Ban Medical Debt From Credit Reports
These are NCLC’s detailed comments supporting the CFPB’s Notice of Proposed Rulemaking to ban medical debt from credit reports. The comments discuss the research and evidence to support the proposed rule, including the fact that medical debt disproportionately affects communities of color as well as consumers with disabilities. The comments also analyze why the CFPB…
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American Banker: Was the CFPB really manipulating data about credit cards?
Appearing in American Banker on May 29, 2024, NCLC Senior Attorney Chi Chi Wu takes on an op-ed that accused the Consumer Financial Protection Bureau of “manipulating data.” To the Editor: In Kathy Kraninger’s op-ed “CFPB must stop manipulating data to support its policy preferences,” the agency’s former director accuses the Consumer Financial Protection Bureau of…
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Detroit Free Press: Much-talked-about $8 late fee on credit cards hits roadblock: What's ahead
Appearing in the Detroit Free Press on May 14, 2024, Susan Tompor interviews NCLC Senior Attorney Chi Chi Wu for coverage of a Texas judge’s preliminary injunction to halt the CFPB’s credit card late fees rule. “This is a mess that will be amplified by a thousandfold if the Supreme Court strikes down the CFPB…
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Synchrony's Planned Rate Hike Unjustified, Advocates Say
Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
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