CFPB’s new proposed debt collection rules to have major impact on medical collections
The Consumer Financial Protection Bureau (“CFPB”) released its long-awaited proposed rules for debt collection on May 7, 2019. While these new rules would apply to all classes of debt, the requirements for account balance itemization are particularly burdensome for medical providers. The Accounts Receivable Management industry continues to lobby the CFPB in advance of final rulemaking to ensure that the impact to medical creditors is minimized.
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