The Biden administration has implemented a new rule that prohibits the inclusion of medical debt on consumer credit reports. This regulation, finalized by the Consumer Financial Protection Bureau (CFPB), aims to alleviate the financial burden of medical debt on Americans. It is expected to remove $49 billion in unpaid medical bills from the credit reports of approximately 15 million individuals, potentially improving their access to credit for mortgages, car loans, and small business loans.

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