CFPB Finalizes Rule Curbing Use and Reporting of Medical Debt
By EsqSocial Corporation 13/01/25
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 would keep most medical debt information off of consumer reports provided to creditors. The final rule largely tracks the June 11, 2024, proposal and is scheduled to take effect 60 days after publication in the Federal Register. However, a group of trade associations, as...
By: Cooley LLP