Consumer Reports Not Include Medical Debt Information
any obligation or alleged obligation of a consumer to pay any amount whatsoever arising from the receipt of health-care goods or services. debt arising from health-care services or health-care goods, including products, devices, durable medical equipment, and prescription medications.
Current law prohibits a consumer reporting agency from making any consumer report containing any of certain items of information. However, this prohibition does not apply to:
- A credit transaction involving, or that may reasonably be expected to involve, a principal amount of $150,000 or more; or
- The underwriting of life insurance involving, or that may reasonably be expected to involve, a face amount of $150,000 or more.
Makingmaking a false, deceptive, or misleading representation that the medical debt will be included in a consumer report or factored into a consumer's credit score ; or Failing to disclose that the medical debt will not be included in a consumer report and therefore not factored into a consumer's credit score. The bill makes exceptions to these prohibitions when unless the information is used in connection with a credit transaction involving, or that may reasonably be expected to involve, a principal amount that exceeds the national conforming loan limit value determined annually by the federal housing finance agency.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)