Consumer credit: credit reports and reporting agencies; collection and reporting of medical debt information; regulate. Creates new act.

House Bill 4329, titled the "medical debt act," aims to regulate how medical debt information is handled for Michigan residents. The bill prohibits consumer reporting agencies from including adverse medical debt information in consumer reports, with an exception for large credit transactions exceeding a specified principal amount. It also requires collection agencies to avoid misrepresenting that medical debt will be reported and to include a specific disclosure statement about these reporting limitations in their initial communications. Individuals can bring a civil action to seek remedies for alleged violations of the act.