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)".

Referred to the House Committee on Financial Services.

Bill 119 hjres 74, also known as the 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)", is a piece of legislation that aims to overturn a rule proposed by the Bureau of Consumer Financial Protection regarding the handling of medical information by creditors and consumer reporting agencies.

The rule in question, known as Regulation V, prohibits creditors and consumer reporting agencies from including certain medical information in credit reports. This information includes details about medical debts and payment history, which can have a significant impact on an individual's credit score and financial well-being.

Supporters of the bill argue that the inclusion of medical information in credit reports can unfairly penalize individuals who have experienced medical emergencies or unexpected health issues. They believe that this rule is necessary to protect consumers from discrimination based on their medical history. Opponents of the bill, on the other hand, argue that the rule is an overreach of government regulation and could potentially harm the financial industry. They believe that creditors and consumer reporting agencies should have the ability to consider all relevant information when assessing an individual's creditworthiness. Overall, Bill 119 hjres 74 is a contentious piece of legislation that highlights the ongoing debate over the role of government regulation in the financial industry and the protection of consumer rights.