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Salon

Politics

Natalie Chandler

INSANE: Medical debt banned from credit reports | Vintage Vibes

Kamala Harris CFPB United States

The Biden administration has moved to ban unpaid medical bills from appearing on credit reports, making it easier for people to borrow money for mortgages, car loans or small business loans.

The Consumer Financial Protection Bureau rule, announced Tuesday, will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, The Associated Press reports. Lenders will no longer be able to take the debt into consideration when deciding to issue a loan.

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