Reported about 17 hours ago
Two industry groups, the Consumer Data Industry Association and Cornerstone Credit Union League, have filed a lawsuit against President Biden's new regulation that bans medical debt from being included in credit reports. The rule, finalized by the Consumer Financial Protection Bureau, aims to remove approximately $49 billion in medical debts from the credit records of about 15 million Americans, arguing it will improve credit scores and access to loans. However, the lawsuit claims the rule violates the Fair Credit Reporting Act, which allows reporting of medical debt.
Source: YAHOO