Make Me Smart cover image

Make Me Smart

The push to wipe medical debt from credit reports

Jun 13, 2024
Discussing the potential removal of medical debt from credit reports, the influence of national donors on local elections, and Apple's new AI features changing emoji language.
15:20

Podcast summary created with Snipd AI

Quick takeaways

  • Proposed rule to ban medical bills from credit reports to help with debt relief for 15 million Americans.
  • Growing trend of parents assisting young adults in home buying reflects challenges in affording homes.

Deep dives

Consumer Financial Protection Bureau Proposes Rule to Remove Medical Debt from Credit Reports

The Consumer Financial Protection Bureau has proposed a rule to ban medical bills from most credit reports following Vice President Kamala Harris's statement on the Biden administration's plan to eliminate medical debt from Americans' credit scores. Approximately 15 million Americans collectively hold $49 billion in medical debt despite past efforts to mitigate the impact on credit scores. Before the rule is finalized, a public comment period until August 12th allows individuals, especially those affected by medical debt, to shape these regulations.

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