Tell Congress: Medical Debt Must Get Off Credit Reports – Support CFPB Rule

January 15, 2025

The Consumer Financial Protection Bureau (CFPB) has finalized a rule to stop the harmful impact of medical debt on consumers’ credit scores, but new congressional leadership may make repealing the rule a top priority. The rule will improve the credit scores of 15 million Americans by stopping credit reporting companies from sharing medical debts with lenders and prohibiting lenders from making lending decisions based on existing medical debt. 

Even though having medical debt has little or no correlation to whether people will make their loan payments, vast amounts of medical debt information remains in the credit reporting system. Medical debt unjustly damages the credit scores of millions, limiting their ability to obtain affordable credit, rent safe housing, or even get a job. Debt collectors also use their ability to damage credit reports to coerce payments, including for inaccurate or false medical bills.

The medical debt rule is incredibly important, but Congress could repeal it using fast track rules under the Congressional Review Act – so Congress needs to hear from the public now!

This rule is part of a larger initiative by the CFPB to address hidden junk fees charged by banks and financial companies that disproportionately harm low-income consumers. Since its formation, the CFPB has obtained over $21 billion in relief for over 205 million people, but the CFPB itself is also under attack.

Customize and send a message to your members of Congress today! Adding your personal medical debt story will make your message more effective.