Agency kicks off rulemaking to remove medical bills from credit reports

The Consumer Financial Protection Bureau Sept. 21 launched a rulemaking process to remove medical bills from credit reports by releasing a document that outlines proposals under consideration. If finalized, the proposals also would prohibit consumer reporting companies from including medical debts and collection information on consumer reports that creditors use in making underwriting decisions, and creditors from using medical collections information when evaluating borrowers’ credit applications.