H.J.Res. 74 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Financial Services, Mar 6, 2025
What this bill does
In plain words · AI-written from the official summaryBlocks rule on medical debt and credit reports
This resolution would cancel a new rule from the Consumer Financial Protection Bureau that banned including medical debt on credit reports and stopped creditors from using medical debt when deciding whether to approve someone for a loan or credit card. If this resolution passes, those restrictions would go away.
How it affects you
If you have medical debt, this directly affects you. Right now, that debt can't appear on your credit report and lenders can't factor it in when deciding if you qualify for credit. If this resolution becomes law, medical debt could go back on your credit report and be used against you when you apply for loans, mortgages, or credit cards.
Read the official summary (Introduced in House, Mar 6, 2025)
This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V) and published on January 14, 2025. This rule prohibits the inclusion of medical debt on credit reports and prohibits creditors from considering medical debt when making credit eligibility determinations.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH.J.Res. 74
JOINT RESOLUTION
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V)".
Sponsor: Rep. Ralph Norman (R-SC-5) · Introduced Mar 6, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 6, 2025: “Referred to the House Committee on Financial Services.”