The proposal would stop credit reporting companies from sharing medical debts with lenders and prohibit lenders from making lending decisions based on medical information.
Read More about 100+ Groups Support the CFPB’s Removal of 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…
Read More about NCLC Comments Supporting CFPB Proposal to Ban Medical Debt From Credit Reports
This is a petition urging the CFPB to open a rulemaking under the Equal Credit Opportunity Act (ECOA) to define residential real estate leases as “credit” and landlords as “creditors” under the ECOA for two limited purposes:
In June, the Consumer Financial Protection Bureau (CFPB) issued its landmark proposal to prohibit medical debt from appearing on credit reports, providing a huge relief for the millions of people who’ve been severely harmed by this practice. But the CFPB needs our support to get the proposed rule over the finish line. Debt collectors, credit bureaus, and other industries are…
Read More about Support the CFPB's Medical Debt Credit Reporting Ban Proposal
Appearing in PBS News on June 12, 2024, Laura Santhanam interviews NCLC senior attorney Berneta Haynes discuss a proposed rule from CFPB and the Biden administration to ban medical debt from credit reports that could translate to more financial relief for the 15 million Americans with $49 billion in unpaid medical bills in collections. Berneta…
Read More about PBS: How banning medical debt from credit reports could help millions of Americans
Consumer advocates hail the measure, which will bring financial relief to millions BOSTON – Consumer advocates at the National Consumer Law Center (NCLC) cheered today’s proposal from the Biden administration and the Consumer Financial Protection Bureau (CFPB) to prohibit the reporting of medical debts on credit reports. “This is a huge relief for the millions…
Read More about CFPB Proposes Banning Medical Debt from Credit Reports
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