Practice Management
A federal judge has overturned a previous Biden administration rule that would have removed about $49 billion in medical debt from consumers’ credit reports. The rule until now had been caught up in court battles. Even so, last year, the 3 major credit bureaus voluntarily said they would exclude medical debts under $500 from their reporting. The Consumer Financial Protection Bureau (CFPB) estimated that if implemented, the rule could have erased medical debt from the …
Read More
Now in its waning days, the Biden administration has finalized a regulation banning the inclusion of medical debt in American consumers’ credit reports. The rule would erase $49 billion in medical debts from the credit reports of about 15 million Americans, according to Reuters. The Consumer Data Industry Association and Cornerstone Credit Union League immediately filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) to prevent the law from taking effect. While excluding medical …
Read More