FOR IMMEDIATE RELEASE
May 1, 2025
WASHINGTON, D.C. – The Consumer Data Industry Association issued the following statement after yesterday’s motion from the CFPB on their medical debt rule:
“We are pleased with the CFPB’s decision to join us in moving for entry of a consent judgment that would vacate the prior administration’s medical debt rule. The rule would have prohibited medical debt on credit reports and prohibited lenders from considering complete and accurate information when making lending decisions.
“America’s financial system has taken over 100 years to develop into the best in the world, based on a full, fair and accurate credit reporting system. Information about unpaid medical debts is an important element in assessing a consumer’s ability to pay. This is the right outcome for protecting the integrity of that system.
“We hope the court will enter the consent judgment as proposed. Our member companies remain committed to providing complete and accurate information to support lenders and help consumers access financial products.”
-Dan Smith, President and CEO of the Consumer Data Industry Association