The finalized rule will prevent medical bills from being included on credit reports used by lenders and will prohibit lenders from using medical information in their decisionmaking. The CFPB ...
It will also improve privacy protections and prevent debt collectors from pressuring ... of denied loan applications annually, medical debt is a poor predictor of a borrowers' creditworthiness.
In effect, the federal agency said, the rule would prevent debt collectors “from using the credit reporting system to coerce people to pay bills they don’t owe.” Medical debt is a factor ...
In other words, it could slow down collections for medical debt, which people may not want to pay off if it is incorrect. Some states, including California, already have laws that prevent medical ...