Americans won’t have to worry about unpaid medical bills damaging their credit reports and scores much longer.The Biden administration is finalizing a rule Tuesday that will end the inclusion of medical debt on credit reports and ban lenders from using certain medical information in loan decisions.The rule will also remove an estimated $49 billion in medical bills from the credit reports of about 15 million people, the Consumer Financial Protection Bureau (CFPB) said in a press release.“People who get sick shouldn’t have their financial future upended,” Rohit Chopra, the bureau’s director, said in the release. “The CFPB’s final rule will close a special carveout that has allowed debt collectors to abuse the credit reporting system to coerce people into paying medical bills they may not even owe.”The measure, which was proposed last June, takes effect 60 days after it is published in the Federal Register.However, Republican lawmakers who control Capitol …
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