Medical Bills on Credit Reports May Be No More
The CFPB has proposed a rule to remove medical bills from most credit reports, aiming to increase privacy protections, raise credit scores, and prevent debt collectors from coercing payments based on medical information. This rule would eliminate the special medical debt exception, establish guardrails for credit reporting companies, and ban repossession of medical devices as collateral for loans, aiming to address the burden of medical debt and coercive credit reporting practices. [6/13/24]
