Medical Credit Cards Targeted for Piling Debt on Patients (2)

Three federal agencies are looking into potentially predatory practices in medical-payment products such as credit cards and installment loans patients use to pay for health care.

The US Consumer Financial Protection Bureau, Department of Health and Human Services and the Treasury Department sent out a request for information Friday, seeking to learn more about how prevalent the products are and whether they can harm consumers with features such as exorbitant deferred interest fees.

CFPB Director Rohit Chopra

Photographer: Ting Shen/Bloomberg

“Financial firms are partnering with health-care players to push products that can drive patients deep into debt,” CFPB Director Rohit Chopra said in a statement ...