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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.
Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.
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 rule aims to keep creditors from obtaining and using information about medical and dental debt to make credit eligibility determinations.
The Biden administration is pushing to prevent medical debt from being considered in most...