Sec. 4. Requirements for furnishers of medical debt information
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Section 623 of the Fair Credit Reporting Act ( 15 U.S.C. 1681s-2 ) is amended by adding at the end the following: Before furnishing information regarding a medical debt of a consumer to a consumer reporting agency, the person furnishing the information shall send a statement to the consumer that includes the following: A notification that the medical debt— may not be included on a consumer report made by a consumer reporting agency until the later of the date that is 365 days after— the date on which the person sends the statement; with respect to the medical debt of a borrower demonstrating hardship, a date determined by the Director of the Bureau; or the date described under section 605(a)(10); and may not ever be included on a consumer report made by a consumer reporting agency, if the medical debt arises from a medically necessary procedure.
A notification that, if the debt is settled or paid by the consumer or an insurance company before the end of the period described under paragraph (1)(A), the debt may not be reported to a consumer reporting agency. A notification that the consumer may— communicate with an insurance company to determine coverage for the debt; or apply for financial assistance. . Section 623 of the Fair Credit Reporting Act ( 15 U.S.C. 1681s-2 ), as amended by subsection (a), is further amended by adding at the end the following:
No person shall furnish any information to a consumer reporting agency regarding a debt arising from a medically necessary procedure. With respect to a medical debt not described under paragraph (1), no person shall furnish any information to a consumer reporting agency regarding such debt before the end of the 365-day period beginning on the later of— the date on which the person sends the statement described under subsection
(f)to the consumer; with respect to the medical debt of a borrower demonstrating hardship, a date determined by the Director of the Bureau; or the date described in section 605(a)(10). With respect to a medical debt not described under paragraph (1), no person shall furnish any information to a consumer reporting agency regarding such debt if the debt is settled or paid by the consumer or an insurance company before the end of the 365-day period described under paragraph (2). In this subsection, and with respect to a medical debt, the term borrower demonstrating hardship means a borrower or a class of borrowers who, as determined by the Director of the Bureau, is facing or has experienced unusual extenuating life circumstances or events that result in severe financial or personal barriers such that the borrower or class of borrowers does not have the capacity to repay the medical debt. .
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Sec. 4
Requirements for furnishers of medical debt information
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