Federal SB4622 aims to amend the Fair Credit Reporting Act by prohibiting the inclusion of medical debt on consumer reports.
Federal SB4622, also known as the Protecting Americans from Treatment-related Credit Harm Act or the PATCH Act, seeks to amend the Fair Credit Reporting Act. It prohibits the inclusion of medical debt on consumer reports, aiming to prevent credit harm related to medical treatment. The bill defines "medical debt" as a debt arising from the receipt of medical services, products, or devices. It also mandates the Director of the Bureau of Consumer Financial Protection to amend regulations to ensure creditors cannot use medical debt information in credit decisions.
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