CFPB Kicks Off Rulemaking to Remove Medical Bills from Credit Reports
The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports.
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Prepared Remarks of CFPB Director Rohit Chopra on Medical Debt at a Press Call Hosted by Vice President Kamala Harris
The Consumer Financial Protection Bureau is launching a rulemaking to block medical debt collectors from weaponizing the credit reporting system to coerce patients into paying bills they may not even owe.
CFPB Exams Find Unfair, Deceptive, and Abusive Practices Across a Wide Array of Consumer Financial Product Lines
Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report which found unfair, deceptive, and abusive acts or practices across many consumer financial products.
Prepared Remarks of Director Rohit Chopra for the CFPB Hearing on Medical Billing and Collections
Prepared Remarks of Director Rohit Chopra for the CFPB Hearing on Medical Billing and Collections.
CFPB, U.S. Department of Health and Human Services, and U.S. Department of Treasury Launch Inquiry into Costly Credit Cards and Loans Pushed on Patients for Health Care Costs
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.
Reporte de la CFPB Destaca como son Empujados los Pacientes a Tomar Costosas Tarjetas de Crédito y Préstamos
CFPB publicó reporte sobre productos financieros especializados, como tarjetas de crédito médicas, vendidos a pacientes para aliviar el costo de cuidados médicos.
Prepared Remarks of Director Rohit Chopra at the American Association of Healthcare Administration Management
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.
CFPB Report Highlights Costly Credit Cards and Loans Pushed on Patients
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.
CFPB Finds One-Third Decline in Collections Items on Consumer Credit Reports
Today, the CFPB released a report examining trends in credit reporting of debt in collections from 2018 to 2022.
CFPB and Centers for Medicare and Medicaid Services Take Action to Protect Caregivers and Families from Illegal Nursing Home Debt Collection Practices
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’s Prepared Remarks at the CFPB Field Hearing on Nursing Home Debt Collection Practices
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.
CFPB Report Details Family Finances and Debt in Rural Appalachia
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.
CFPB Publishes Analysis of Potential Impacts of Medical Debt Credit Reporting Changes
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 Zixta Martinez’s Keynote Address at the Consumer Federation of America’s 2022 Consumer Assembly
Deputy Director Martinez delivered keynote remarks at the 2022 Consumer Assembly on June 15, 2022.
CFPB Report Highlights Experiences of Military Families with Medical Billing, Credit Reporting, and Debt Collection
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.
CFPB Report Spotlights Medical Billing Challenges
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 Opening Remarks to the Academic Research Council
Deputy Director Martinez's remarks at the April 8, 2022 Academic Research Council.
Director Chopra’s Opening Remarks to the Consumer Advisory Board
Director Chopra remarks at the April 6, 2022 CAB meeting.
Prepared Remarks of Director Rohit Chopra on New CFPB Medical Debt Report
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.
CFPB Estimates $88 Billion in Medical Bills on Credit Reports
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.
CFPB Issues Bulletin to Prevent Unlawful Medical Debt Collection and Credit Reporting
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.
CFPB Releases Report Detailing Consumer Complaint Response Deficiencies of the Big Three Credit Bureaus
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.
Consumer Financial Protection Bureau Releases Report on Third-Party Debt Collections
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.
CFPB Takes Action Against Medical Debt Collector
Company Mishandled Consumer Credit Reporting Disputes, Prevented Consumers From Exercising Debt Collection Rights Today, the Bureau announced an enforcement...
CFPB Spotlights Concerns with Medical Debt Collection and Reporting
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...