FOR IMMEDIATE RELEASE
March 12, 2025
WASHINGTON, D.C. – The Consumer Data Industry Association (CDIA) today announced its support for Congressional action withdrawing the Consumer Finance Protection Bureau’s (CFPB) medical debt rule. Representative Ralph Norman (SC) and Senator Mike Rounds (SD) both introduced legislation to overturn the medical debt rule in Congress. Dan Smith, President & CEO, Consumer Data Industry Association released the following statement.
“Congressional action is especially crucial to reaffirm that CFPB lacks legal authority to dictate what can or cannot be included in consumer credit reports. Congress has been very clear that medical debt may be included in consumer reports, provided the type of services or the provider is not disclosed. It’s important to remember that just two years ago Equifax, Experian, and TransUnion modified their reporting processes to address the unique circumstances of medical debts.
Unpaid medical debt amounts under $500 are no longer included on consumer’s’ credit reports, and unpaid medical collection debt greater than $500 does not appear on a credit report until it is at least one year old. The changes made by the Nationwide Consumer Reporting Agencies removed nearly 70% of medical debt tradelines from consumer credit reports.”
About CDIA: The Consumer Data Industry Association (CDIA) is the voice of the consumer reporting industry, representing consumer reporting agencies, including the nationwide credit bureaus, regional and specialized credit bureaus, background check and residential screening companies, and others. Founded in 1906, CDIA promotes the responsible use of consumer data to help consumers achieve their financial goals and to help businesses, governments, and volunteer organizations avoid fraud.
Contact: Cynthia Adcock (Cadcock@cdiaonline.org)
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