Just 5 months before election day, the Biden administration formally proposed a rule, released through the Consumer Financial Protection Bureau (CFPB), to bar medical debt from most individual credit reports. The rule would also prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit.

The CFPB kicked off the rulemaking in September 2023, and comes on the heels of several state laws prohibiting inclusion of medical debt information on consumer reports. The Bureau also released an unofficial redline of the proposed rule to Regulation V, which generally allowed lenders to use medical debt information when making credit determinations if certain conditions were met.

Join CDIA and David Anthony, Stefanie Jackman, and Chris Willis, Partners at Troutman Pepper, LLP, for an in-depth analysis of what the proposed rule will mean for your organization and what additional anticipated FCRA rulemaking to follow later this year. There will be a live Q&A session moderated by Dan Smith, CDIA’s President and CEO.