Banking and Finance Law Daily Wrap Up, DEBT COLLECTION—CFPB issues guidance on new compliance requirements for medical debt, (Jan 14, 2022)

By Jacob Bielanski

The Bureau has informed insurance companies, reporting agencies and debt collectors of new FDCPA and FCRA compliance requirements for various out-of-network medical costs that were passed as part of the previous spending bill.

The medical billing industry will be subject to new limitations this year if it is to avoid running afoul of f ...