CFPB Finalizes Rule Removing Medical Debt from Credit Reports 

The Consumer Financial Protection Bureau (CFPB) finalized a rule this week that largely prohibits the inclusion of medical debt on credit reports and prohibits lenders from considering medical information when making lending decisions. EPIC applauds the CFPB for finalizing these rules, which will protect the privacy of consumer medical information and promote accuracy fairness in credit reporting.  

“The CFPB’s final rule will close a special carveout that has allowed debt collectors to abuse the credit reporting system to coerce people into paying medical bills they may not even owe,” CFPB Director Rohit Chopra said of the rule. 

EPIC routinely calls on the CFPB to strengthen privacy protections for consumers. Recently, EPIC filed comments in support of the CFPB’s proposals related to medical debt, comments on the CFPB’s Personal Financial Data Rights Rulemaking, and comments on the CFPB’s proposed revisions to Fair Credit Reporting Act rules, which among other changes would clarify that data brokers must comply with FCRA.