The CFPB Considers Rules to Remove Medical Debt from Credit Reports: What does this Mean for Medical and Dental Providers?

Last month, the Consumer Financial Protection Bureau (CFPB) kicked off a rulemaking process that, if enacted, would reshape the credit reporting and debt collection landscape and could have a detrimental effect on medical and dental providers’ bottom line. As we previously noted , the CFPB, under director Rohit Chopra, continues to make medical financing and debt collection a priority of the agency’s agenda. In prepared remarks on a call with Vice President Kamala Harris, Director Chopra noted that 58% of all third-party debt collection tradelines were for medical debt, making medical debt the