cfpb-seeks-to-remove-medical-bills-from-credit-reports 
Burr Forman
SEPTEMBER 27, 2023
On September 21, 2023, the CFPB announced it is undertaking a rulemaking process to remove medical bill tradelines from consumer reports and prohibit creditors from relying on medical bills during underwriting.
Collection Industry News
DECEMBER 25, 2023
New YorkCNN — The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined were illegal collection practices. In the meantime, two states — New York and Colorado — have gotten ahead of that decision.
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Troutman Sanders
JUNE 14, 2023
On June 8, the board of governors for the Federal Reserve (the Fed), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and the OCC requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.
Troutman Sanders
MAY 2, 2023
Speaking at the Consensus 2023 conference, Senator Lummis stated that the next installment of her bill — the Responsible Financial Innovation Act — will be presented to the Senate within eight weeks. The bill additionally leaves room for assets that don’t fit neatly into either category. For more information, click here.
Troutman Sanders
NOVEMBER 7, 2023
In addition, the complaint alleges that while the company claimed to offer “non-recourse” advances with no fees or interest, the company prevented consumers who had an open advance, from canceling their subscription, and continued to withdraw $9.99 monthly from their bank account until the advance was paid off.
Troutman Sanders
MARCH 28, 2022
We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. The proposal was jointly developed with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration.
Troutman Sanders
JANUARY 17, 2024
On January 15, Epiq AACER reported that U.S. bankruptcy filings surged by 18% in 2023, reaching a total of 445,186 cases, up from 378,390 in 2022. The two advisory opinions seek to ensure that the consumer reporting system produces accurate and reliable information and does not keep people from accessing their personal data.
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