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Morning Briefing

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Wednesday, Jun 12 2024

Full Issue

CFPB Releases Proposed Rule To Ban Medical Debt From Credit Reports

The Biden administration regulation, if implemented, would reduce tens of millions people in the U.S. with medical debt listed on their reports down to zero — and could raise their credit scores by an average of 20 points.

ϳԹ News: Biden Administration Advances Plan To Remove Medical Debt From Credit Scores

Americans would no longer have to worry about medical debts dragging down their credit scores under federal regulations proposed Tuesday by the Consumer Financial Protection Bureau. If enacted, the rules would dramatically expand protections for tens of millions of Americans burdened by medical bills they can’t afford. The regulations would also fulfill a pledge by the Biden administration to address the scourge of health care debt, a uniquely American problem that touches an estimated 100 million people. (Levey, 6/11)

“Medical debt makes it more difficult for millions of Americans to be approved for a car loan, a home loan or a small business loan, all of which in turn makes it more difficult to just get by, much less get ahead, and that is simply not fair. Especially when we know that people with medical debt are no less likely to repay a loan than those without medical debt,” Vice President Kamala Harris said Tuesday. “No one should be denied access to economic opportunity simply because they experienced a medical emergency.” (Davis, 6/11)

In other news about the Biden administration —

Government researchers hoped to attract a more diverse group of patients for clinical research by paying for the travel expenses of cancer patients seeking to volunteer for trials. It didn’t work. (Wilkerson, 6/12)

Facing a worsening cybersecurity crisis in health care, the Biden administration has followed a familiar political playbook: Call the biggest names in technology and secure promises, and money, to fix the problem. (Ross and Ravindranath, 6/12)

Also —

President Joe Biden kept his distance from the courtroom where his son Hunter Biden stood trial on felony gun charges to avoid any appearance of meddling but his quick statement reacting to the jury’s guilty verdict Tuesday spoke to where his heart has been all along. “Jill and I love our son, and we are so proud of the man he is today,” Biden wrote. “So many families who have had loved ones battle addiction understand the feeling of pride seeing someone you love come out the other side and be so strong and resilient in recovery.” (Long, Miller and Madhani, 6/11)

This is part of the Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
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