According to a report issued yesterday by the CFPB entitled “Data point: Medical debt and credit scores,” credit scoring models may be overly penalizing consumers with medical debts that go into collection by producing credit scores that underestimate such consumers’ creditworthiness. 

To conduct its analysis, the CFPB used data in its Consumer Credit Panel (CCP). 

To address concerns about the vulnerability of foster care children to credit reporting problems, the CFPB has published three action letter templates for child welfare caseworkers to send to credit bureaus if they find errors on the credit reports of children in their care. 

In its press release announcing the publication of the letters, the