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Consumer Financial Protection Bureau: Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V)

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Highlights

GAO reviewed the Consumer Financial Protection Bureau's (CFPB) new rule entitled "Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V)." GAO found that the final rule (1) amends Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical information; and (2) provides that a consumer reporting agency generally may not furnish to a creditor a consumer report containing information on medical debt that the creditor is prohibited from using.

Enclosed is our assessment of CFPB's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. If you have any questions about this report or wish to contact GAO officials responsible for the evaluation work relating to the subje

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