Newsroom

Prepared Remarks of Director Rohit Chopra for the CFPB Hearing on Medical Billing and Collections.

The CFPB, HHS, and U.S. Department of Treasury launched an inquiry into high-cost specialty financial products, such as medical credit cards and installment loans, that are pushed on patients as a way to pay for routine medical care and which drive up health care costs and medical debt.

Director Chopra delivered remarks at the May 4, 2023, meeting of the American Association of Healthcare Administration Management's Government Relations Committee and Executive Board.

Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical credit cards, that are sold to patients as a way to alleviate the growing costs of medical care.

Today, the CFPB released a report examining trends in credit reporting of debt in collections from 2018 to 2022.

Today, the Consumer Financial Protection Bureau (CFPB) released an Issue Spotlight highlighting some of the difficulties and experiences heard from caregivers about being pursued over friends’ or family members’ alleged debts from nursing home facilities.

Director Chopra delivered remarks at a virtual roundtable exploring challenges around nursing home debt collection practices, and the impact they can have on the financial wellbeing of caregivers, their families, and friends.

The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Today’s report focuses on rural Appalachians, who tend to earn less than consumers in other rural areas and have higher rates of subprime credit. In particular, medical debt collections are a much more prevalent issue among rural Appalachians, and consumers with medical debt collections often experience difficulties making ends meet on other financial obligations.

Today, the Consumer Financial Protection Bureau (CFPB) published an analysis of how actions announced by the three largest national consumer reporting companies – Experian, Equifax, and TransUnion -- will affect people who have allegedly unpaid medical debt on their credit reports.

Deputy Director Martinez delivered keynote remarks at the 2022 Consumer Assembly on June 15, 2022.

Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing servicemembers, veterans, and military families, based on the complaints they submitted to the CFPB. Servicemembers told the CFPB about billing inaccuracies and that debt collectors used aggressive tactics to recover allegedly unpaid medical bills.

A report issued today by the Consumer Financial Protection Bureau (CFPB) examines the financial consequences of medical billing and collections endured by individuals and families across the country. The report draws from the rising volume of medical billing and collection complaints submitted to the CFPB.

Deputy Director Martinez's remarks at the April 8, 2022 Academic Research Council.

Director Chopra remarks at the April 6, 2022 CAB meeting.

Today, the CFPB released a report on medical billing and collection practices in our country. Medical bills are the most common debt in collections reported on our credit reports. Our own review suggests that roughly 43 million people had medical bills on their credit report, in June 2021, with the total outstanding amount around $88 billion.

The Consumer Financial Protection Bureau (CFPB) today released a report highlighting the complicated and burdensome nature of the medical billing system in the United States.

The Consumer Financial Protection Bureau (CFPB) today released a bulletin reminding debt collectors and credit bureaus of their legal obligations in light of the No Surprises Act, which protects consumers from certain unexpected medical bills.

A new analysis by the Consumer Financial Protection Bureau (CFPB) reveals how changes in complaint responses provided by nationwide consumer reporting companies resulted in fewer meaningful responses and less consumer relief. In 2021, Equifax, Experian, and TransUnion together reported relief in response to less than 2% of covered complaints, down from nearly 25% of covered complaints in 2019.

The Consumer Financial Protection Bureau (Bureau) released a report today that found that more than one-in-four consumers with a credit report have at least one debt in collection by third-party debt collectors.

Company Mishandled Consumer Credit Reporting Disputes, Prevented Consumers From Exercising Debt Collection Rights Today, the Bureau announced an enforcement...

Today, the Bureau released a report that found medical debt has a significant impact on consumer credit, as 43 million Americans have overdue medical debt...

Today the Bureau has come here to talk about debt collection and credit reporting, both in general and more specifically as they relate to medical debt...

Study Finds Credit Scores Underestimate Creditworthiness for Consumers Who Owe and Repay Medical Debt Today the Bureau released a research report that found...

Today the Bureau is releasing a study on how the collection of medical debt affects a consumer's credit score. What we found is that consumers' credit...

More than 1 Million Consumers Were Potential Victims of Misleading Practices Today the Bureau is ordering GE Capital Retail Bank and its subsidiary...