S.J.Res. 36 · Where this bill is now
In committee
Introduced in the Senate, Mar 11, 2025
What this bill does
In plain words · AI-written from the official summaryBlocks ban on medical debt in credit reports
This joint resolution would cancel a rule from the Consumer Financial Protection Bureau that prevents medical debt from appearing on credit reports and stops creditors from using medical debt when deciding whether to lend money to someone. The rule being cancelled was issued in January 2025.
How it affects you
If this passes, people with medical debt could see it show up on their credit reports, and lenders could consider medical debt when deciding whether to approve them for loans, credit cards, or mortgages. This could affect your ability to borrow money and the interest rates you're offered if you have medical debt.
Read the official summary (Introduced in Senate, Mar 11, 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 SessionS.J.Res. 36
JOINT RESOLUTION
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of 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: Sen. Mike Rounds (R-SD) · Introduced Mar 11, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 11, 2025: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”