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The Biden administration Tuesday announced a new proposed rule to erase medical debt from credit reports, potentially helping an estimated 100 million Americans who struggle to pay their medical bills. The new rule, which was proposed by the Consumer Financial Protection Bureau (CFPB), aims to bring relief to patients who have had trouble getting approved for loans, renting an apartment, getting a job and being able to afford everyday essentials due to medical debt. The CFPB is a government agency whose goal is to make financial markets fair for Americans.

The Biden administration is pushing to prevent medical debt from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

The move would remove medical debt from the credit reports of more than 15 million Americans, which would raise their credit scores by an average of 20 points, according to an administration fact sheet.

The Biden administration is pushing to prevent medical debt from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

The move would remove medical debt from the credit reports of more than 15 million Americans, which would raise their credit scores by an average of 20 points, according to an administration fact sheet.