CFPB proposes removing medical bills from credit reports

The Consumer Financial Protection Bureau today announced it has begun a rulemaking process to remove medical bills from consumer credit reports. According to the bureau, the rulemaking under consideration would also stop creditors from relying on medical bills for underwriting decisions. The proposal would not stop creditors from obtaining medical bill information for other purposes, such as verifying the need for medical forbearances or evaluating loan applications to pay for medical services, it said.