CNN reports that the Biden administration is finalizing a rule that will help millions of Americans battling bad credit due to medical debt. Before Biden leaves office, medical debts will no longer be allowed for inclusion on credit reports. The outlet noted the new rule will remove $49 billion in medical bills from credit reports, according to the Consumer Financial Protection Bureau (CFPB).

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BING NEWS:
  • Biden administration bars medical debt from credit scores
    The rules ban credit agencies from including medical debts on consumers' credit reports and prohibit lenders from considering medical information in assessing borrowers.
    01/8/2025 - 12:16 pm | View Link
  • SD Bankers Association President: Federal ruling to remove medical debt is not as good as it sounds
    The Biden Administration is finalizing this Consumer Financial Protection Bureau (CFPB) ruling that would also ban lenders from using certain medical information in loan decisions.
    01/8/2025 - 11:59 am | View Link
  • Medical Debt No Longer Impacts Credit Scores
    There is growing evidence, for example, that credit scores depressed by medical debt can threaten people’s access to housing and drive homelessness. People with low credit scores can also have trouble ...
    01/8/2025 - 11:01 am | View Link
  • Good News: Medical Debt Won't Hurt Your Credit Report
    The Biden administration is finalizing a rule that will help millions of Americans battling bad credit due to medical debt.
    01/8/2025 - 9:22 am | View Link
  • Medical debt may not hurt your credit score, a new rule says. What happens if you don’t pay the bill?
    Unpaid medical debt will no longer affect credit scores, according to a new rule from Biden administration regulators who want to mitigate the financial repercussions of those bills.
    01/8/2025 - 7:55 am | View Link
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