Advocates Cheer CFPB Proposal Barring Medical Debt From Credit Reports, IRS Scrutiny Of Tax-Exempt Hospitals

The Consumer Finance Protection Bureau is proposing a rule that would eliminate medical debt from most credit reports, stop companies from sharing debt information and bar lenders from making decisions based on medical data, spurring immediate cheers from consumer advocacy groups that have long pushed for change. Advocates also applauded the administration’s plan to audit more tax-exempt hospitals in fiscal 2024. CFPB believes the rule, which aims to address the burden of medical debt and coercive reporting practices, would remove...