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1. Embed this notice
   Nonilex (nonilex@masto.ai)'s status on Wednesday, 12-Jun-2024 03:18:52 JST Nonilex

   The #Biden admin will announce rules to block #MedicalDebt from being used to evaluate #borrowers’ fitness for #mortgages & other types of #loans.
   
…The WH has repeatedly focused on the issue of #medical #debt, saying it disproportionately harms low-income Americans & communities of color.
   
“This is going to be an enormous relief for so many people battling #bills when it comes to medical visits,” CPFB dir Rohit Chopra said….

   #equity #economy #finance #BidenHarris2024
   https://www.washingtonpost.com/health/2024/06/11/biden-cfpb-medical-debt/

   • Bill repeated this.
   • Embed this notice
     Nonilex (nonilex@masto.ai)'s status on Wednesday, 12-Jun-2024 03:19:27 JST Nonilex

     in reply to

     Experts have warned that medical debt is linked to numerous #health & financial harms, such as worse #MentalHealth or delays in obtaining additional #MedicalCare.

     #MedicalDebt “can lead to other kinds of financial vulnerability,” Cynthia Cox, VP at KFF, a nonpartisan #healthcare research org that has analyzed #medical #debt, wrote…. “It’s a difficult cycle for people to pull themselves out of, especially at a time when they may be sick & less able to work.”

     #equity #economy #BidenHarris2024

   • Embed this notice
     Nonilex (nonilex@masto.ai)'s status on Wednesday, 12-Jun-2024 03:19:28 JST Nonilex

     in reply to

     The rules set to be announced Tues would ban #credit reporting agencies from incorporating #medical #debt when calculating #CreditScores…. The rules would also bar #lenders from using #MedicalDebt to determine #LoanEligibility, they said.

     …~15M Americans have medical #bills on their credit reports, acc/to a study released in April by the #Consumer #Financial #Protection Bureau. …People affected by medical debt disproportionately live in the South or in low-income communities….

     #BidenHarris2024

     Bill repeated this.