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CFPB Move to Block Medical Debt from Credit Reporting A “Step in the Right Direction”

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) has announced plans to block medical debt owed by patients from credit reports, part of a wider effort by the Biden administration to tackle medical debt that makes it harder for everyday Americans to access mortgages and other loans.

Public Citizen’s health care policy advocate Eagan Kemp released the following statement:

“Public Citizen applauds the Biden administration for taking this important step to reduce the impact of medical debt that burdens the lives of tens of millions of Americans. No one should face difficulty finding housing, getting a job, or starting a business just because they had a medical emergency.

“While this move is a step in the right direction, we must continue to push back on the corporate greed that leads to medical debt in the first place. Insurance companies, Big Pharma, and private equity are making our for-profit health care system a nightmare. That’s why we have urged the administration to take broader interagency action: Foundational change is necessary if we are to finally put patients ahead of profit, as our peer nations already do.”