Consumer Financial Protection Bureau (CFPB) has finalized a rule that will remove all medical debt from being listed on personal credit reports and prevents lenders from using medical information in their lending decisions. In 2023 the three main consumer credit reporting agencies (Experian, Equifax & TransUnion) agreed to make changes to how medical debt is reported.
New scoring models have already being reducing the importance or discarding medical debt as it’s not a reliable indicator of credit worthiness in the first place as evidenced by a 2014 report by CFPB.
