Summary
The Biden administration finalized a rule removing medical debt from U.S. credit reports, effective March, impacting $49 billion in debt for 15 million Americans.
The Consumer Financial Protection Bureau (CFPB) also barred lenders from using medical information in lending decisions.
The rule, aimed at reducing financial harm from medical expenses, could boost credit scores by 20 points on average and enable 22,000 additional annual mortgage approvals.
This follows 2023 credit bureau changes but faces potential rollback under the incoming Trump administration.
$10 says the orange turd takes credit for it.
Or reverts it.
Or tries to revert it, fails, then claims credit for it in March anyways