A federal judge in Texas has blocked a Biden-era rule that would have excluded medical debt from people’s credit reports. The rule, which was issued by the Consumer Financial Protection Bureau (CFPB), would have substantially improved the credit ratings of millions of Americans. However, the judge blocked the rule, saying that the CFPB lacked the authority to issue the rule under the Fair Credit Reporting Act (FCRA).
Continue reading “Federal Judge Blocks CFPB Rule on Medical Debt”
New York Governor Kathy Hochul signed a new law on Wednesday, December 15, which will remove most medical debt from the credit reports of New York residents. The law will substantially improve many people’s credit scores by removing the impact of medical debt on their credit, enabling a better financial future. In particular, this will be a boon for many low-income New Yorkers who struggle to improve their circumstances after a major medical emergency.
Continue reading “NY Governor Signs Law Removing Medical Debt From Credit Reports”
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