Biden administration moves to ban medical debt from credit reports [Video]

(The Hill) – The Biden administration announced Tuesday it will be following through on plans to bar medical debt from being included on credit scores.

“One of the most significant consequences of carrying medical debt is the harm it does to a person’s credit score,” Vice President Harris said in a press briefing.

“Medical debt makes it more difficult for millions of Americans to be approved for a car loan, a home loan or a small business loans. All of which in turn makes it more difficult to just get by much less get ahead. And that is simply not fair.”

The administration said back in September it had begun looking into the potential of banning medical debt from credit scores. At the time, the Consumer Financial Protection Bureau (CFPB) said it was seeking to keep creditors from “relying on data that is often plagued with inaccuracies and mistakes.”

The CFPB has previously …