Credit reporting requirements (FCRA)

On July 11, 2025, the U.S. District Court of the Eastern District of Texas vacated the Consumer Financial Protection Bureau’s rule, Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V), upon the joint request of the Bureau and the plaintiffs in Cornerstone Credit Union League v. CFPB. The court agreed with the Bureau and the plaintiffs that the rule exceeded the Bureau’s statutory authority and was contrary to the Fair Credit Reporting Act (FCRA) because the rule purported to prohibit the furnishing and consideration of coded medical debt information.  FCRA permits those activities so long as the medical debt information does not identify or provide information sufficient to infer the specific provider or the nature of medical services, products, or devices. The court also concluded that the rule exceeded the Bureau’s authority under the FCRA because it purported to provide the Bureau with authority to limit the contents of consumer reports based on state and other law. The materials relating to the FCRA Medical Debt Rule on the Bureau’s website are for reference only.