Medical debt: New federal rules could provide credit relief for millions of Americans
New proposals from the Consumer Financial Protection Bureau could mean an end to medical debt negatively affecting Americans’ credit reports.
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New proposals from the Consumer Financial Protection Bureau could mean an end to medical debt negatively affecting Americans’ credit reports.
President Joe Biden has not formally announced a holistic approach to regulating Big Tech, but a new rule from the Consumer Financial Protection Bureau may be the start.
The long-anticipated move by CFPB Director Rohit Chopra, who built his career targeting Big Tech over privacy and competition issues, gives a competitive boost to lenders grappling with an onslaught of new rules from capital hikes and caps on debit and credit cards fees to tougher fair lending standards.
The company was also accused of violating a previous order to stop illegal conduct.
The CFPB's new proposed rule might inevitably sweep in the country's largest crypto companies. Affected entities should comment before January 8, 2024.