In a groundbreaking move, the Biden administration has introduced a new rule that will prevent unpaid medical bills from appearing on credit reports. This change aims to alleviate financial burdens for millions of Americans,

Unpaid medical bills will no longer appear on credit reports, where they can block people from mortgages, car loans or small business loans

The rule will remove an estimated $49 billion in medical bills from the credit reports of millions of Americans.

U.S. consumers will no longer have medical debt appear on their credit reports under to a new rule the CFPB finalized Tuesday.

The future of the new rule remains in question, however, with President-elect Donald J. Trump set to return to the White House this month.

The rules ban credit agencies from including medical debts on consumers’ credit reports and prohibit lenders from considering medical information in assessing borrowers.

The Biden Administration announced an initiative Tuesday to remove an estimated $49 billion in medical debt from credit reports.

Vice President Harris announced a final ruling by the Consumer Financial Protection Bureau to remove $49 billion in unpaid medical debt from consumer credit reports.

Vice President Kamala Harris announced a new regulation by the Consumer Financial Protection Bureau (CFPB) to remove medical debt from all consumer credit reports. “No one should be denied economic opportunity because they got sick or experienced a medical emergency,

The finalized rule will prevent medical bills from being included on credit reports used by lenders and will prohibit lenders from using medical information in their decision-making.