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Sanders praises ban on medical debt in credit reports
Sen. Bernie Sanders has praised the Consumer Financial Protection Bureau’s (CFPB) forthcoming rules to exclude medical debt from credit reports.
He called the move “an important step in the right direction.”
Sanders criticized the current system where families face evictions and wage garnishments due to medical debt, despite the health care industry’s massive profits.
The Biden administration’s new regulations will block the use of medical debt in evaluating loan eligibility and credit scores.
The bureau’s Rohit Chopra said 15 million Americans, mainly in the South and low-income areas, are affected by medical debt on their credit reports.
The proposal will undergo public comment and its fate hinges on the upcoming election.
Sanders, alongside Rep. Ro Khanna, recently introduced a bill to eliminate $220 billion in medical debt.
The health care industry made more than $100 billion in profits last year.
KFF, a health policy organization, estimates roughly 3 million US adults individually owe more than $10,000 in medical debt.
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