Biden administration seeks to wipe consumer medical debt off most credit reports with proposed rule

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Medical Devices News

Medical Technology,Domestic News,Equifax

The Biden administration is pushing to prevent medical debt from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

Medical plan cards are seen on Monday, June 10, 2024, in Portland, Ore. The Consumer Financial Protection Bureau said Tuesday, June 11, 2024, it is planning a rule that would remove medical bills from credit reports and prevent lenders from making decisions based on medical information. from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

The proposed rule also would prevent lenders from repossessing medical devices like wheelchairs if people cannot repay a loan.

 

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