Opposition is quickly forming against the Biden administration’s rule to ban medical debt from appearing on consumers’ credit reports, threatening the viability of what could be a popular regulation.

The agency estimated the rule will remove more than $49 billion in medical bills from the credit reports of about 15 million Americans.

Most medical debt will be scrapped from consumer credit reports under a final US rule implementing a Biden administration priority, but Republican lawmakers and the credit reporting industry will likely push to overturn the changes.

The amendment to Regulation V is expected to raise the number of mortgage approvals by about 22,000 loans per year.

Medical debt is the largest source of debt in collection in the United States, and it’s more likely to be held by women, people with disabilities and Black Americans.

The Consumer Financial Protection Bureau (CFPB) on Tuesday finalized its rule barring medical debt from being included on credit reports, potentially freeing up billions in credit. The finalized

The Consumer Financial Protection Bureau has finalized a rule to keep medical bills off of consumers' credit reports.

Lenders will no longer be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. for mortgages, car loans or business loans. Here's what you need to know.