CFPB's Medical Debt Rule: Potential for Unintended Consequences
The CFPB finalized a rule eliminating \$49 billion in medical debt from 15 million Americans' credit reports; however, this action may have unintended consequences, including degraded lending standards, higher healthcare prices, and reduced credit access for low-income individuals.
CFPB's Medical Debt Rule: Potential for Unintended Consequences
The CFPB finalized a rule eliminating \$49 billion in medical debt from 15 million Americans' credit reports; however, this action may have unintended consequences, including degraded lending standards, higher healthcare prices, and reduced credit access for low-income individuals.
Progress
56% Bias Score
CFPB Removes $49 Billion in Medical Debt from Credit Reports
The CFPB removed $49 billion in medical debt from the credit reports of 15 million Americans, improving credit scores and access to credit, because medical debt is often inaccurate and doesn't predict loan repayment.
CFPB Removes $49 Billion in Medical Debt from Credit Reports
The CFPB removed $49 billion in medical debt from the credit reports of 15 million Americans, improving credit scores and access to credit, because medical debt is often inaccurate and doesn't predict loan repayment.
Progress
36% Bias Score
Credit Industry Sues Over Ban on Medical Debt in Credit Reports
Two industry groups are suing the CFPB over a new rule removing \$49 billion in medical debt from the credit reports of 15 million Americans, arguing it violates the Fair Credit Reporting Act and could reduce loan availability.
Credit Industry Sues Over Ban on Medical Debt in Credit Reports
Two industry groups are suing the CFPB over a new rule removing \$49 billion in medical debt from the credit reports of 15 million Americans, arguing it violates the Fair Credit Reporting Act and could reduce loan availability.
Progress
44% Bias Score
CFPB Sues Experian for Violating Fair Credit Reporting Act
The Consumer Financial Protection Bureau (CFPB) is suing Experian for violating the Fair Credit Reporting Act by conducting sham investigations into consumer credit report disputes, failing to properly review disputes, and reinserting inaccurate information, potentially harming consumers' access to ...
CFPB Sues Experian for Violating Fair Credit Reporting Act
The Consumer Financial Protection Bureau (CFPB) is suing Experian for violating the Fair Credit Reporting Act by conducting sham investigations into consumer credit report disputes, failing to properly review disputes, and reinserting inaccurate information, potentially harming consumers' access to ...
Progress
44% Bias Score
Legal Challenges Threaten Biden's Medical Debt Credit Reporting Ban
The Biden administration's new rule banning medical debt from credit reports, impacting an estimated 15 million consumers and $49 billion in debt, faces legal challenges from industry groups and political opposition from a leading House Republican, raising questions about the rule's future and impac...
Legal Challenges Threaten Biden's Medical Debt Credit Reporting Ban
The Biden administration's new rule banning medical debt from credit reports, impacting an estimated 15 million consumers and $49 billion in debt, faces legal challenges from industry groups and political opposition from a leading House Republican, raising questions about the rule's future and impac...
Progress
52% Bias Score
CFPB Removes Medical Debt from Credit Reports: Impacts and Uncertainties
The Consumer Financial Protection Bureau is removing medical debt from the credit reports of millions of Americans, impacting about 20 percent of the population, aiming to improve credit scores and access to credit but potentially affecting consumer and provider incentives.
CFPB Removes Medical Debt from Credit Reports: Impacts and Uncertainties
The Consumer Financial Protection Bureau is removing medical debt from the credit reports of millions of Americans, impacting about 20 percent of the population, aiming to improve credit scores and access to credit but potentially affecting consumer and provider incentives.
Progress
48% Bias Score
Medical Debt Removal from Credit Reports
The Biden administration finalized a rule to remove an estimated $49 billion in medical debt from the credit reports of about 15 million Americans, impacting credit scores and loan decisions, starting in 2025.
Medical Debt Removal from Credit Reports
The Biden administration finalized a rule to remove an estimated $49 billion in medical debt from the credit reports of about 15 million Americans, impacting credit scores and loan decisions, starting in 2025.
Progress
40% Bias Score