The idea of oversight has expanded beyond the walls of the financial institution. Regulators are increasingly looking at the entire "resolution chain," meaning a credit provider’s compliance standing is linked to the actions of the debt settlement advisors their consumers choose. This creates a unique challenge: how does an institution maintain its high standards of consumer protection when the primary interaction is handled by an external relationship?
Businesses that conduct text message marketing campaigns have significantly reduced exposure to class action claims under § 227(c)(5) in the Seventh Circuit. Class actions predicated solely on unwanted marketing texts are now subject to dismissal in district courts within the Seventh Circuit.
The House Financial Services Committee has advanced 10 bills to the full House of Representatives following a June markup hearing. Several of the measures focus on the Fair Credit Reporting Act (FCRA), credit reporting practices, and access to credit. Committee members debated the legislation largely along party lines, with discussions focusing on balancing consumer protections, regulatory oversight, and access to financial services.
Massachusetts Governor Maura Healey has proposed regulations that would stop certain companies in the state from reporting medical debt to consumer credit agencies. The proposal would prohibit licensed medical care providers and debt collectors working for them from reporting medical debt to credit bureaus, intending to help patients avoid long-term financial harm after an unexpected illness or medical emergency.
Washington, D.C., Mayor Muriel Bowser has raised concerns about the City Council’s recently passed medical debt legislation, which would significantly change how medical debt is managed, reported and collected throughout the district. The D.C. City Council unanimously passed the Medical Debt Mitigation Amendment Act of 2025 (Bill 26-438) in June and sent the legislation to the mayor for approval.
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