Kim Phan, a partner in Troutman Pepper’s Consumer Financial Services Practice Group, was quoted in the July 15, 2024 American Banker article, “Debt Collectors Defend Doctors in Skewering CFPB Medical Debt Plan.”

Kim Phan, a partner at the law firm Troutman Pepper, said multiple industries are working on research on medical debt that could be used in litigation against the CFPB. She also said that the 2024 election could have a major impact on all the CFPB’s upcoming rulemakings.

“As this is only a proposed rule, a Trump-appointed CFPB director could easily choose not to move this rulemaking forward,” said Phan. “Trump’s return to presidency would almost certainly change things.”