Account Recovery

SEPTEMBER 25, 2024

The states are following the lead of the Consumer Financial Protection Bureau, which is proceeding with a similar proposal. What they’re saying: Sen.

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Collection Industry News

APRIL 24, 2025

The bureau reports that, even though it leads to thousands of denied loan applications annually, medical debt is a poor predictor of a borrowers creditworthiness. According to the CFPB, the rule change: Removes exceptions that let lenders use information about medical debt to make determinations about someones creditworthiness.

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Collection Industry News

JANUARY 25, 2023

Progressive Senators Sound Alarm Over Rise of ‘Predatory’ Medical Credit Cards A group of progressive senators raised alarm this week over a pernicious outgrowth of the United States’ for-profit healthcare system: medical credit cards. Elizabeth Warren (D-Mass.), Ed Markey (D-Mass.), Bernie Sanders (I-Vt.),

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Collection Industry News

JUNE 10, 2024

Medical debt is not reported to credit bureaus as long as it remains with your healthcare provider. It finalized, it would: Remove exceptions that let lenders use information about medical debt to make determinations about someone’s creditworthiness. How long does medical debt stay on your credit?

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Account Recovery

FEBRUARY 3, 2025

Opponents raised concerns that banning medical debt reporting would hinder lenders ability to assess creditworthiness and could financially strain hospitals. By the numbers The big picture: The bill faced split testimony from industry groups, including the Wyoming Hospital Association, AARP Wyoming, and the Leukemia and Lymphoma Society.

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Account Recovery

JANUARY 30, 2025

The agency cites research showing that medical debt is less predictive of credit risk than other types of debt and argues that credit reporting is often used as a coercion tactic rather than a legitimate assessment of creditworthiness.

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