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International Business Times
International Business Times
National
Carla St. Louis

15 Million Americans' Credit Scores Could See Major Boosts, Thanks to Biden's New Rule

Joe Biden Donald Trump Kamala Harris United States
U.S. President Joe Biden speaks at the Department of Labor on December 16, 2024 in Washington, DC. (Credit: Kevin Dietsch/Getty Images)

President Joe Biden's administration has banned the inclusion of medical debt on credit reports, a move that could benefit 15 million Americans by removing $49 billion in unpaid medical bills from their records.

Vice President Kamala Harris announced the new rule in a White House statement, and said the Consumer Financial Protection Bureau (CFPB) will expunge medical debt that's negatively effecting consumers' credit ratings score.

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