Reported 1 day ago
As President Biden prepares to leave office, his administration has enacted a ban on including medical debt in credit reports, fulfilling a campaign promise. This new regulation is set to remove $49 billion in medical debt from around 15 million American credit reports, aiming to improve economic opportunities for families affected by health issues. Despite opposition from banking and consumer data industries, officials assert that this change will not only enhance credit scores and lower loan denial rates but also prevent undue pressure from debt collectors over erroneous medical charges.
Source: YAHOO