CFPB, Federal Agencies, State Agencies, and Attorneys General
State legislatures in New Mexico and Nevada enacted laws this session targeting medical debt collections. Both laws have been signed by the states’ Governors and take effect July 1, 2021.
New Mexico Patients Debt Collection Practices Act
The New Mexico Patients Debt Collection Practices Act places a number of requirements on health care facilities and…
The next meeting of the CFPB’s Consumer Advisory Board will take place on February 19 in Washington, DC. The focus of the meeting will be to “discuss trends and themes related to consumer and financial well-being and medical debt.” The meeting is open to the public and will be recorded. The CFPB on December 11…
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). …
