>>510845031 (OP)>https://www.forbes.com/sites/adamminsky/2025/01/10/major-credit-reporting-changes-for-medical-bills-student-loans-could-impact-20-million-people/New Rule Will Remove Credit Reporting For Unpaid Medical Bills
The new CFPB rule on medical debt will have sweeping impacts for people.
“The CFPB’s action will ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions,” said the agency in a statement on Tuesday. “The rule will increase privacy protections and prevent debt collectors from using the credit reporting system to coerce people to pay bills they don’t owe.” The CFPB noted that medical debt provides “little predictive value” to prospective lenders, while ordinary Americans often suffer from inaccurate billing or debts that were incurred for medical bills that should have been covered by insurance.
“People who get sick shouldn’t have their financial future upended,” said CFPB Director Rohit Chopra. “The CFPB’s final rule will close a special carveout that has allowed debt collectors to abuse the credit reporting system to coerce people into paying medical bills they may not even owe.”
