Medical Debt May Be Removed From Credit Reports ...Middle East

Medical bills may soon be banned from credit reports under a new rule proposed Tuesday by the Consumer Financial Protection Bureau (CFPB).  While lenders have been restricted from obtaining or using medical information in their credit decisions under the Fair and Accurate Credit Transactions Act, exceptions in federal legislation allowed lenders to continue doing so. The proposed change would effectively close that loophole by barring credit reporting companies from disclosing medical debts to lenders, and prevent lenders from using that debt to make lending decisions.  [time-brightcove not-tgx=”true”] “The CFPB is seeking to end the senseless practice of weaponizing the credi

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