Skip to content

Menu

LexBlog, Inc. logo
CommunitySub-MenuPublishersChannelsProductsSub-MenuBlog ProBlog PlusBlog PremierMicrositeSyndication PortalsAboutContactResourcesSubscribeSupport
Join
Search
Close

New Bill Proposes Amendments to FDCPA and FCRA

CreditReporting_907811408
By Tim Bado & Ethan G. Ostroff on April 13, 2020
Email this postTweet this postLike this postShare this post on LinkedIn

A new bill was proposed on April 7 in the House of Representatives which, if passed, would amend the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. The proposed bill aims to regulate how medical debts are handled under these statutes.

The bill’s current name is: “To amend the Fair Credit Reporting Act to institute a 1-year waiting period before medical debt will be reported on a consumer’s credit report and to remove paid-off and settled medical debts from credit reports that have been fully paid or settled, to amend the Fair Debt Collection Practices Act to provide a timetable for verification of medical debt and to increase the efficiency of credit markets with more perfect information, and for other purposes.” While there are few details about the specifics of the bill, its name provides ample context as to what lawmakers hope to accomplish.

The bill was introduced by Congresswoman Katie Porter (D-Calif.), who is a member of the House Financial Services Committee and a former law professor and consumer protection advocate. The bill has 63 co-sponsors in the House of Representatives. Among the 63 co-sponsors, 62 are Democrats and include outspoken Congresswomen Rashida Tlaib (D-Mich.) and Alexandra Ocasio-Cortez (D-N.Y.). The lone Republican co-sponsor is Congressman Jefferson Van Drew (R-N.J.).

According to her press release, Congresswoman Porter’s proposed legislation has garnered support from the National Association of Consumer Advocates, the Consumer Federation of America, Americans for Financial Reform, and the National Patient Advocate Foundation. Congresswoman Porter went on to say, “Nobody chooses to get sick and take on medical debt. It is wrong for families to be saddled with years and years of additional financial hardships because of an illness or injury they weren’t able to plan for.”

The bill has been referred to the House Committee on Financial Services for review, according to Congress.gov.

Photo of Tim Bado Tim Bado

Tim is an attorney in the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, with a primary focus on financial services litigation. He is part of the firm’s national practice defending consumer-facing companies in both individual and class actions against claims brought…

Tim is an attorney in the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, with a primary focus on financial services litigation. He is part of the firm’s national practice defending consumer-facing companies in both individual and class actions against claims brought under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), Real Estate Settlement Procedures Act (RESPA), and the Driver’s Privacy Protection Act (DPPA). Tim also defends national banks and mortgage servicers from complaints and investigations brought by federal regulators. He has defended companies in individual and class actions in numerous states, including, Georgia, California, Colorado, Florida, Illinois, Kentucky, Louisiana, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, and Washington.

Read more about Tim BadoEmailTim's Linkedin Profile
Show more Show less
Photo of Ethan G. Ostroff Ethan G. Ostroff

Ethan specializes in the defense of consumer actions, including class and mass actions, general business litigation, as well as regulatory compliance.

Read more about Ethan G. OstroffEmailEthan G.'s Linkedin Profile
  • Posted in:
    Financial
  • Blog:
    Consumer Financial Services Law Monitor
  • Organization:
    Troutman Pepper Hamilton Sanders LLP
  • Article: View Original Source

LexBlog, Inc. logo
Facebook LinkedIn Twitter RSS
Real Lawyers
99 Park Row
  • About LexBlog
  • Careers
  • Press
  • Contact LexBlog
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Terms of Service
  • RSS Terms of Service
  • Products
  • Blog Pro
  • Blog Plus
  • Blog Premier
  • Microsite
  • Syndication Portals
  • LexBlog Community
  • 1-800-913-0988
  • Submit a Request
  • Support Center
  • System Status
  • Resource Center

New to the Network

  • Lawrina Blog
  • The FTI Award Journal
  • International Dispute Resolution
  • China Law Update Blog
  • Law of The Ledger
Copyright © 2022, LexBlog, Inc. All Rights Reserved.
Law blog design & platform by LexBlog LexBlog Logo