CFPB Announces Rulemaking to Remove Medical Debt From Credit Reports
- The Consumer Financial Protection Bureau today announced it was beginning the rulemaking process to remove medical debts from consumers’ credit reports, removing the “leverage” that debt collectors use to “pressure” consumers into repaying unpaid medical debts.
- More details here.
Reaction to CFPB’s Medical Debt Announcement
- Yesterday, the Consumer Financial Protection Bureau announced it was beginning the rulemaking process to remove medical debt from consumers’ credit reports. There is still a long way to go in this process and a lot could change between now and when — or even if — a final rule is issued, but in the meantime, here are some comments from participants on both sides of the debate.
- More details here.
Judge Denies MTD in Case Against Owners of Payday Lending Company Accused of Hiding Millions to Avoid Fines
- A District Court judge in Kansas has denied a motion to dismiss filed by a husband and wife who are being sued by the Consumer Financial Protection Bureau for fraudulently trying to hide $13 million in assets as a means of avoiding having to use them to settle $40 million in fines and penalties that were assessed in an earlier enforcement order.
- More details here.
Suit Accuses Collector of Ignoring Request to Only Communicate via Email
- This is one of those times where I am writing about a complaint because it’s emblematic of a number of complaints I have seen in recent months and it’s definitely worth making sure your policies and procedures in this area are appropriately buttoned up. There have been a number of complaints filed, including this one, accusing collectors of attempting to communicate with consumers at inconvenient times and places because they are allegedly not honoring requests from consumers who are asking to be communicated with via specific channels.
- More details here.
- This series is sponsored by WebRecon
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Funny Friday, part I
Funny Friday, part II
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