“To amend the Fair Credit Reporting Act to prohibit the inclusion of medical debt on a consumer report, and for other purposes.”
No CRS summary available for this bill.
This section (1) defines "medical debt" under the Fair Credit Reporting Act (FCRA) as a debt related to, in whole or in part, transactions, accounts, or balances arising from medical services, products, or devices; (2) revises FCRA Section 605(a)(6) to exclude any adverse information related to medical debt—including debts placed for collection, charged to profit or loss, or subject to similar action—from consumer reports (replacing prior exclusion for certain medical information); and (3) makes conforming amendments to FCRA Section 604(g) to eliminate cross-references to the prior exclusion. (Thus, consumer reporting agencies may not include medical debt information in credit reports used for credit, insurance, employment, or other permissible purposes.)
This section directs the Director of the Bureau of Consumer Financial Protection, not later than one year after the date of enactment, to amend section 1022.30 of title 12, Code of Federal Regulations (or any successor regulation), to prohibit creditors from obtaining or using information relating to a consumer's medical debt in determining whether to extend credit.