Biden administration seeks to wipe consumer medical debt off most credit reports with proposed rule Boston 25 News [Video]

The Biden administration is pushing to prevent medical debt from being considered in most decisions made over whether someone qualifies to rent an apartment, buy a car or take on a mortgage.

The Consumer Financial Protection Bureau said Tuesday it is planning a rule that would remove medical bills from credit reports and prevent lenders from making decisions based on medical information.

The proposed rule also would prevent lenders from repossessing medical devices like wheelchairs if people cannot repay a loan.

“No one should be denied access to economic opportunity simply because they experienced a medical emergency,” Vice President Kamala Harris said during a conference call laying out the planned rule.

The administration announced plans for the rule in September, and a senior administration official said they expect to finalize it early next year.

The CFPB has said that medical debt can be a poor predictor of whether someone is likely to repay a loan. Those expenses often are not planned …