The Consumer Financial Protection Bureau finalized a rule on Tuesday that will bar medical debt from being included in credit scores. Medical debt impacts people’s ability to qualify for home mortgages, car loans, and even renting. The rule will go into effect 60 days after it has been published in the Federal Registrar, which has not happened yet. The rule was proposed in June, and there was concern after Donald Trump’s victory in the 2024 presidential election that the Biden administration would not have enough time to finalize it.

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BING NEWS:
  • Biden is banning medical debt from credit reports. That's excellent.
    The Consumer Financial Protection Bureau's rule banning medical debt from credit reports is the right thing to do in every sense. It's a smart move by Biden.
    01/11/2025 - 10:18 pm | View Link
  • Medical debt removed from credit reports for millions of Americans
    One Arizona dad, Matt Miller, said this ruling is life-changing for so many people. His medical debt made it difficult for him to buy a car, much less a home.
    01/11/2025 - 9:37 pm | View Link
  • Medical Debt to Be Removed From All Americans’ Credit Scores
    The Consumer Financial Protection Bureau finalized a rule on Tuesday that will bar medical debt from being included in credit scores. Medical debt impacts people’s ability to qualify for home ...
    01/9/2025 - 4:40 am | View Link
  • New CFPB Rule Keeps Medical Debt Off Credit Reports: What You Need to Know
    Americans will no longer have to decide what’s more important: Their health or their credit score. Finalized on January 7, a new rule from the Consumer Financial Protection Bureau (CFPB) prohibits cre ...
    01/9/2025 - 2:17 am | View Link
  • Medical debt will be removed from credit reports: What this means for Americans
    The Biden administration finalized a new rule that will prevent Americans from the harm caused by medical debt, including being coerced by debt collectors to pay bills they do not owe.
    01/8/2025 - 3:44 am | View Link
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