The General Assembly recently passed legislation that would protect Rhode Islanders from credit problems resulting from medical debts. The bills sponsored by Rep. Mary Ann Shallcross Smith, D-Lincoln, and Sen. Melissa A. Murray, D-Woonsocket, would prohibit debt collectors from reporting all medical debt to credit bureaus. It also sets rules for communication with consumers, false and misleading representation by debt collectors, and a ban against collection during insurance appeals.
While any downtime in card processing is a major stressor, Steve Kramer explains how billers can keep payments providers accountable for creating better processes and workarounds that maximise uptime and reliability during inevitable processor outages
The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified.
With all the talk about medical debt this week as a result of the Consumer Financial Protection Bureau’s proposed medical debt credit reporting rule, it’s perhaps interesting to note that a majority of consumers feel forgiving medical debt is more important than forgiving student loan debt, according to the results of a new poll. Fifty-one percent of individuals believe it is very important or extremely important to forgive medical debt, compared with 39% who believe the same for student loan debt.
In 2024, a few key concerns bubble consistently to the top of the list for the paycheck-to-paycheck economy. The PYMNTS Intelligence report “New Reality Check: The Paycheck-to-Paycheck Report: Why One-Third of High Earners Live Paycheck to Paycheck” found that 82% of the roughly 4,000 respondents said concerns about inflation are No. 1 on the list of economic woes, and only 17% hold out any hope that inflation will subside anytime soon.
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