The Maryland Office of Financial Regulation (OFR) has issued formal guidance outlining three major laws that significantly change how medical debts may be collected, reported, and enforced in the state. The laws — HB 428, HB 1020, and HB 268 — took effect on October 1.
The background: The new laws are designed to address concerns about aggressive medical debt collection practices and the long-term credit impact of medical bills. Regulators are urging collection agencies, consumer reporting agencies, and healthcare providers to review their procedures immediately to ensure full compliance…