{"id":2041758,"date":"2023-09-22T17:23:02","date_gmt":"2023-09-22T21:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-to-remove-medical-debt-records-from-credit-reports\/"},"modified":"2023-09-22T17:26:49","modified_gmt":"2023-09-22T21:26:49","slug":"biden-admin-to-remove-medical-debt-records-from-credit-reports","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-to-remove-medical-debt-records-from-credit-reports\/","title":{"rendered":"Biden Admin. Removing Medical Debt Records from Credit Reports"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-admin-to-remove-medical-debt-records-from-credit-reports%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2041758&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Dana Downey of \u2064Pennsylvania speaks at \u2063a \u2062roundtable on Capitol Hill on September 13, \u200b2023 in \u2063Washington, DC.\u2064 Health advocates\u200b and community members \u2064gathered in Washington D.C. to\u200b push the \u200cBiden administration\u200d to take additional action on medical debt in an event hosted by Community Catalyst, a national organization fighting for race equality and health justice. (Photo by Tasos Katopodis\/Getty Images for Community Catalyst)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a rel=\"noreferrer noopener\" href=\"https:\/\/www.oann.com\/tag\/abril-elfi\" target=\"_blank\">Abril Elfi<\/a><br \/>2:18 PM \u2013 Friday, September 22, 2023<\/h2>\n<p>The Biden Administration has announced their plans to \u2062erase medical debt records from consumer credit reports.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>On Thursday, the Consumer Financial Protection Bureau (CFPB) outlined <a href=\"https:\/\/www.consumerfinance.gov\/about-us\/newsroom\/cfpb-kicks-off-rulemaking-to-remove-medical-bills-from-credit-reports\/\">its proposed rules<\/a> \u200b to prevent unpaid medical bills from negatively\u2062 impacting patients&#8217; credit scores. The bureau expects to issue a proposed rule next year. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, the CFPB joined\u2062 the <a href=\"https:\/\/twitter.com\/VP?ref_src=twsrc%5Etfw\">@VP<\/a> to announce we are kicking\u200b off a rulemaking process to ban medical bills from credit reports. <a href=\"https:\/\/t.co\/hOP6fgdxSv\">https:\/\/t.co\/hOP6fgdxSv<\/a><\/p>\n<p>\u2014 consumerfinance.gov (@CFPB) <a href=\"https:\/\/twitter.com\/CFPB\/status\/1704947966870425659?ref_src=twsrc%5Etfw\">September 21, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>Vice \u200cPresident Kamala\u200c Harris spoke on the matter, stating that more\u200c than 100 million Americans have unpaid \u2064medical debt. <\/p>\n<p>She also emphasized \u200dhow medical debts have lowered \u2062residents\u2019 credit scores, impacting their ability to buy a home, get a mortgage, \u2064or own a\u2063 small \u2064business. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe know\u200c credit\u2063 scores \u200bdetermine whether a person can have economic health and well-being,\u2062 much less the ability\u2064 to grow their\u200b wealth,\u201d she said. \u2063\u201cToday, we\u200c are offering \u200ca solution to fix \u200cthis problem\u2064 \u2026 Together, these measures will \u2064improve the credit scores of millions of Americans so\u2063 that they will better be able to invest in\u200b their future.\u201d<\/p>\n<\/blockquote>\n<p>If the rule is approved, consumer credit \u2063companies will be prohibited from including medical\u200c debt and collection information on reports used by creditors to\u200b make underwhelming decisions.<\/p>\n<p>When reviewing borrowers\u2019 \u200dloan applications,\u200d creditors would only be authorized to evaluate non-medical \u2064information. The agency also stated that debt collectors would no longer be able to\u2064 use\u200b the inclusion of medical debt on credit reports as leverage to\u2063 compel individuals into paying questionable invoices.<\/p>\n<p>CFPB Director Rohit Chopra also spoke \u200don the function of the proposals, emphasizing that \u2062when someone is sick,\u2063 their focus should be on getting better. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cResearch shows that medical bills have little predictive value in credit decisions, yet tens of millions\u200b of American households are dealing \u200cwith medical debt on\u2064 their credit reports,\u201d Chopra said. \u201cWhen someone gets sick, they should be\u2062 able to focus \u200bon getting better, rather than fighting debt \u200bcollectors trying \u2062to extort them into paying bills they may not even owe.\u201d<\/p>\n<\/blockquote>\n<p>Chopra also highlighted how many of these healthcare bills \u2062contain mistakes that often burden families. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cFamilies are often barraged \u2062with a string of confusing and error-ridden \u2062bills, and too many of us have \u2063ended up in a doom loop \u2062of disputes between insurance companies and healthcare providers,\u201d he said. \u201cThese bills, even ones where the patient doesn\u2019t owe anything \u200bfurther, can end up being reported on the patient\u2019s credit report.\u201d<\/p>\n<\/blockquote>\n<p>The White House is also actively working to reduce\u200c Americans&#8217; medical \u2062bill debts as part of an effort to help people\u200c cope with inflation and the\u2062 higher cost of living. <\/p>\n<p>CFPB is also <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-to-remove-medical-debt-records-from-credit-reports\/\" title=\"Biden Admin. Removing Medical Debt Records from Credit Reports\">reportedly \u200dinvestigating medical bill practices<\/a>, including \u200bmedical credit cards and installment loans. <\/p>\n<p>Stay informed! Receive breaking news blasts directly\u2063 to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Reports show that the surge of \u2062migrants in Texas is coming with possible deadly health consequences. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In an exclusive\u2062 interview,\u200d Wisconsin Senator Ron Johnson says that Americans should be highly\u200d concerned about a government being opaque and \u2063dishonest. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Matt Marcenelle <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Aly Legge<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>WASHINGTON (Reuters) \u2013 The United States argued on\u200d Tuesday that Alphabet Inc\u2019s Google broke the law in\u2063 its efforts to dominate online\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By John Revill ZURICH (Reuters) \u2013 ABB is spending $280 million on a new robotics factory in Sweden, the Swiss engineering and\u2026 \u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>PARIS (Reuters) \u2013 French Europe Minister Laurence Boon on Wednesday welcomed an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reactions-to-eu-probe-of-chinese-electric-cars-imports\/\" title=\"EU probe of Chinese electric cars imports sparks mixed reactions.\">anti-subsidy investigation<\/a> into Chinese \u200belectric\u200c vehicles launched by the EU\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Mathieu Rosemain\u200d and\u2062 Silvia Aloisi PARIS (Reuters) \u2013 Apple said on Wednesday its iPhone 12 model was certified \u200cby multiple \u2063international\u2026 <\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What types of stakeholders are\u2063 encouraged to\u2063 provide feedback on the proposed \u200brules regarding the removal of medical debt from credit reports<\/h2>\n<p><span>  That are incorrect, \u2062can wreak havoc on a person\u2019s credit and\u2064 financial well-being.\u201d<\/p>\n<\/blockquote>\n<p>The proposed rules\u200c aim to address\u2064 these issues by removing medical bills from credit reports. However, the CFPB notes that the \u2062impact of\u200b medical debt \u200con credit \u2064scores \u200dmay still linger \u2063due \u200cto other negative factors such as missed payments \u2062or collections related\u2063 to non-medical debts.<\/p>\n<p>Consumer \u200cadvocates and healthcare organizations \u200bhave\u200b praised the Biden Administration&#8217;s plans. They argue that medical debt should not be a determining factor in a person&#8217;s creditworthiness, as healthcare\u2063 costs \u200doften arise from\u2064 unforeseen circumstances and should not\u200b penalize individuals financially.<\/p>\n<p>However, critics have raised concerns about the potential consequences of removing medical debt from credit reports. They argue that lenders rely on credit scores to \u2063assess an individual&#8217;s financial responsibility and ability \u2064to \u2063repay debts.\u200d Without including \u2064medical debt in credit\u200d reports, lenders may not\u2064 have a complete picture of a\u200b borrower&#8217;s financial situation.<\/p>\n<p>The CFPB is currently <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-sets-out-oil-and-gas-drilling-auctions-required-under-new-law\/\" title=\"U.S. sets out oil and gas drilling auctions required under new law\">seeking public input<\/a> on the proposed rules. Stakeholders, including consumers, industry \u2063experts, and organizations, can submit comments and provide \u2063feedback before the final rule is issued.<\/p>\n<p>Overall, the Biden Administration&#8217;s efforts to erase medical\u200d debt records from consumer credit reports\u200d aim\u2062 to \u200cprovide relief \u200dto millions of Americans burdened by\u2063 healthcare expenses. By removing this debt from credit reports, individuals may have improved access to credit and financial opportunities, ultimately contributing to their economic well-being and ability to \u200cinvest in their future.<\/p>\n<\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dana Downey from Pennsylvania addresses medical debt at a Capitol Hill roundtable on September 13, 2023. Health advocates and community members unite in Washington D.C., urging the Biden administration for more action. The event, hosted by Community Catalyst, fights for racial equality and health.<\/p>\n","protected":false},"author":2196,"featured_media":2041759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2041758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2041758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2196"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2041758"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2041758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2041759"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2041758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2041758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2041758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}