The Consumer Financial Protection Bureau has proposed regulations that would prevent medical debts from impacting Americans’ credit scores. This move aims to protect tens of millions burdened by medical bills they can’t afford and fulfill a promise by the Biden administration to address healthcare debt. The rules would bar future medical bills from credit reports and remove current medical debts, including dental bills. Although hospitals may still try to collect debts through other means, these regulations could have a significant impact on patients’ financial security and overall health. The proposal is currently open for public comments with plans for a final rule early next year.
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Biden Administration Advances Plan To Remove Medical Debt From Credit Scores
