Is there a way to hide labels in tile mode, for specific folders?
No, tiles mode settings affect all folders. You can add and remove some of the data displayed on tiles on a per-filetype basis, but not per folder.
The reason I wanted to hide labels(filenames) for specific folders is that majority of the folders I have with images use md5 filenames, in which case I really don't need to see the filename displayed. However the "display label" option in thumbnails mode and such is global. Really minor, but thank you for your response.
Edit - Just realized the display label isnt an option in thumbnail mode. Could've sworn it was there before, or perhaps in some other setting.