News & Analysis as of

Medical Debt Final Rules Regulatory Requirements

Orrick, Herrington & Sutcliffe LLP

CFPB backs industry associations in bid to strike down medical debt rule

On April 30, the CFPB and two industry associations filed a joint motion with the U.S. District Court for the Eastern District of Texas requesting that the court vacate the Bureau’s medical debt rule. The associations,...more

Holland & Knight LLP

CFPB Seeks to Vacate the Medical Debt Rule

Holland & Knight LLP on

The CFPB on April 30, 2025, reached an agreement with lender trade groups to vacate the Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information Rule (the Medical Debt Rule). The joint motion...more

Orrick, Herrington & Sutcliffe LLP

CFPB to revoke its medical debt advisory opinion

On April 11, the CFPB stated in a court filing that it plans to revoke its advisory opinion on medical debt collection from October 1, 2024. The filing was a motion to the U.S. District Court for the District of Columbia and...more

Ballard Spahr LLP

Financial Services Committee Republicans call on CFPB to withdraw rules, guidance

Ballard Spahr LLP on

Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules....more

Sheppard Mullin Richter & Hampton LLP

GOP Senators Moving to Invoke the Congressional Review Act Over Biden-Era Rules

The CFPB is facing pushback from the U.S. Senate over two final rules issued under the Biden administration: one expanding oversight of nonbank digital payment providers and another limiting the reporting of medical debt....more

Sheppard Mullin Richter & Hampton LLP

Texas Federal Court Pauses CFPB Rule Banning Medical Debt from Credit Reports

On February 6, a judge for the United District Court for the Eastern District of Texas issued a 90-day stay on the CFPB’s final rule prohibiting the inclusion of medical debt in consumer credit reports, delaying the rule’s...more

Troutman Pepper Locke

CFPB Continues “Pausing” Litigation: This Time in Medical Debt Rule Litigation

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) requested and was granted a 90-day stay in the litigation involving trade associations Cornerstone Credit Union League (Cornerstone) and the Consumer Data Industry...more

Ballard Spahr LLP

CFPB issues medical debt rule; regulation immediately challenged in federal court

Ballard Spahr LLP on

The CFPB has issued its  final rule that will prohibit the inclusion of medical debts in credit reports lenders use to make credit decisions and that will also generally prohibit lenders from using medical debt information in...more

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