Lenders soon won't 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. A rule the Consumer Financial Protection Bureau finalized Tuesday bans outstanding medical debts from appearing on credit reports and prohibits lenders from using the information. The bureau says removing that information is expected to increase the credit scores of millions of families. The CFPB says its research showed that outstanding health care claims are a poor predictor of someone’s ability to repay a loan. The rule is set to take effect in about 60 days though its fate under the incoming Trump administration is unclear.
