Newsroom
Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions.
Today, the CFPB proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.
Research from the Consumer Financial Protection Bureau in 2022 showed that medical collections tradelines appeared on 43 million credit reports, and that 58 percent of bills that were in collections and on people’s credit records were medical bills.
By
Rohit Chopra
