Bill > AB2746

This bill aims to provide greater transparency and protection for consumers regarding medical credit cards and medical debt. It defines a "medical credit card" as a credit card specifically for medical expenses and requires entities offering them to clearly disclose that it is a credit card, not a payment plan, and to state the annual percentage rate (APR), obtaining the consumer's explicit written consent. Furthermore, the bill modifies the definition of "medical debt" to encompass a broader range of debts related to medical services, products, or devices, while also prohibiting consumer credit reporting agencies from including information from medical credit cards for purchases made at specific medical facilities, such as hospitals and pharmacies, on consumer credit reports. This change in the definition of medical debt could potentially lead to new state-mandated local program costs, as violations of certain credit reporting laws are considered crimes.