The proposed rule would stop credit reporting companies from sharing medical debts with lenders and would prohibit lenders from using medical information to make lending decisions, the agency said in a press release this week.
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CFPB issues proposed rule banning medical bills from credit reports
“The complex nature of medical billing, insurance coverage and reimbursement, and collections means that medical debts that continue to be reported are often inaccurate or inflated,” the CFPB said in the release.
