January 7, 2025 (press release) –
The Consumer Financial Protection Bureau today released a final rule Jan. 7 banning medical bills on credit reports and prohibiting lenders from using medical information in lending decisions. The rule will remove an estimated $49 billion in medical bills from credit reports for nearly 15 million Americans. The CFPB said Americans with medical debt on their credit reports could see their credit scores increase by an average of 20 points.
The final rule will become effective 60 days after publication in the Federal Register.
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