Medical debt will be removed from credit reports: What this means for Americans [FOX Business Network]
TransUnion (TRU)
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Source: FOX Business Network
The Biden administration finalized a new rule this week preventing medical debt from being included in credit reports, as well as prohibiting lenders from using certain medical information in loan decisions. This is slated to provide relief to millions of Americans whose credit reports or scores have been negatively impacted by unpaid medical bills . For context, about 46 million people had medical debt listed on their reports in 2020, according to the administration. Here's what this rule means for Americans: When it takes effect, which is 60 days after publication in the Federal Register, $49 billion in unpaid medical bills will be removed from the credit reports of 15 million Americans, according to the Consumer Financial Protection Bureau (CFPB). The administration said this will ensure that patients are no longer denied access to credit for home mortgages, car loans or small business loans. About 22,000 additional affordable mortgages will be approved every year once t
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News
- InnovationRx: Medical Debts Will Be Erased From Credit Histories [Forbes]Forbes
- 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
- TransUnion Announces Agreement to Acquire Financial Technology Company Monevo, a Credit Prequalification and Distribution PlatformGlobeNewswire
TRU
Earnings
- 10/23/24 - Beat
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Sec Filings
- 1/3/25 - Form 4
- 1/3/25 - Form SCHEDULE
- 1/2/25 - Form 144
- TRU's page on the SEC website