Discover the pivotal changes brought by the CFPB’s final rule amending Regulation V concerning medical information. This course offers an in-depth understanding of the new prohibitions on using medical debt in credit eligibility decisions, ensuring fairer credit practices. Learn about compliance strategies, the impact on stakeholders, and how these changes could increase credit access for consumers.
In this course you will learn the following:
* Understand the background and justification for the final rule.
* Identify prohibited uses of medical information by creditors.
* Define “medical debt information” under the rule.
* Specify limitations on consumer reporting agencies furnishing medical debt information.
* Recognize compliance requirements and effective dates.
* Understand the potential impacts of the rule on various stakeholders.
