118 HR 9890 IH: Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024 U.S. House of Representatives 2024-10-01 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 9890IN THE HOUSE OF REPRESENTATIVESOctober 1, 2024Mr. Bacon (for himself and Ms. Perez) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo amend the Fair Credit Reporting Act to require reporting certain positive consumer credit information, and for other purposes.

1.

Short title

This Act may be cited as the Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024.

2.

Positive credit reporting of medical debt payments permitted

(a)

In general

Section 623 of the Fair Credit Reporting Act (15 U.S.C. 1681s–2) is amended by adding at the end the following:(f)

Positive credit reporting of medical debt payments

(1)

Treatment of paid or settled medical debt

A furnisher of medical debt information may furnish to a consumer reporting agency information relating to medical debt paid or settled by a consumer which antedates the consumer report of the consumer by one year.(2)

Treatment of medical debt payment plan

A furnisher of medical debt information may furnish to a consumer reporting agency information relating to the satisfactory performance of a consumer meeting the obligations of a payment plan for a medical debt owned by such furnisher if—(A)such furnisher and the consumer have entered into a payment plan with respect to the medical debt; and(B)the consumer is meeting the obligations of the payment plan, as determined by such furnisher.(3)

Reasonable procedures for positive consumer credit information from furnishers of medical debt

Consumer reporting agencies and credit score providers shall adopt reasonable procedures for positive information relating to a consumer’s medical debt described in this subsection so that such information is—(A)included in a consumer report;(B)utilized in the generation of any credit score; and(C)provided to users of consumer reports and credit scores in a manner which is fair and equitable to the consumer in accordance with the requirements of this title.(4)

Definitions

In this subsection:(A)

Credit score

The term credit score has the meaning given in section 609(f)(2).(B)

Credit score provider

The term credit score provider means an entity that generates and makes available a credit score to a person.(C)

Furnisher of medical debt information

The term furnisher of medical debt information means an entity that—(i)owns a medical debt; and(ii)provides to a consumer reporting agency information relating to transactions, accounts, balances, repayment terms, repayment history, and similar information relating to such medical debt.(D)

Medical debt

The term medical debt means a debt arising from the receipt of medical services, products, or devices..