CFPB finalizes rule to remove estimated $49 billion in medical debt from credit reports [CNBC]
TransUnion (TRU)
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Source: CNBC
With the change, Americans with medical debt could see their credit scores increase by an average of 20 points, the CFPB reported. Vice President Kamala Harris also announced more than $1 billion in medical debts have been eliminated. The Consumer Financial Protection Bureau on Tuesday announced it has finalized a rule to remove about $49 billion in medical debt from credit reports, a change that will affect an estimated 15 million Americans. Individuals who have medical debt on their credit reports may see their credit scores increase by an average of 20 points following the rule, according to the CFPB. It said the change is also expected to result in the approval of about 22,000 additional affordable mortgages every year. With the rule, consumer reporting agencies will be prohibited from including medical debt information with credit reports and credit scores sent to lenders. In addition, creditors will no longer be able to use certain medical information for lending decisi
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News
- InnovationRx: Medical Debts Will Be Erased From Credit Histories [Forbes]Forbes
- Medical debt will be removed from credit reports: What this means for Americans [FOX Business Network]FOX Business Network
- My Credit Score Went Up 130 Points in 5 Years. Here's How I Did It [CNET News]CNET News
- Nearly half of credit card users are carrying debt — it may take months, or years, to pay off [CNBC]CNBC
- New TransUnion Research Reveals Seven in 10 Marketing Leaders Struggle to Connect with Audiences Due to Complex Network of Martech Solutions and Identity ChallengesGlobeNewswire
TRU
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- 10/23/24 - Beat
TRU
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- 1/3/25 - Form 4
- 1/3/25 - Form SCHEDULE
- 1/2/25 - Form 144
- TRU's page on the SEC website