Support the CFPB’s Medical Debt Credit Reporting Ban Proposal

July 10, 2024

In June, the Consumer Financial Protection Bureau (CFPB) issued its landmark proposal to prohibit medical debt from appearing on credit reports, providing a huge relief for the millions of people who’ve been severely harmed by this practice. But the CFPB needs our support to get the proposed rule over the finish line.

Debt collectors, credit bureaus, and other industries are already generating lots of opposition to the CFPB’s proposal. The CFPB needs a groundswell of comments from consumers and their advocates in support of the ban. So many people have their own personal stories about medical debt, and they are invaluable to the CFPB, especially when they describe how consumers have struggled due to medical debt on their credit reports. 

In addition to telling your or your client’s story, be sure to urge the CFPB to extend the credit reporting ban to negative information about loan products used to pay for medical debt, such as medical credit cards. Also urge the CFPB to extend the ban to credit reports used for employment and tenant screening. Medical debt shouldn’t harm credit records regardless of how it shows up.