Politics

304 readers

1033 users here now

For civil discussion of US politics. Be excellent to each other.

Rule 1: Posts have the following requirements:
▪️ Post articles about the US only

▪️ Title must match the article headline

▪️ Recent (Past 30 Days)

▪️ No Screenshots/links to other social media sites or link shorteners

Rule 2: Do not copy the entire article into your post. One or two small paragraphs are okay.

Rule 3: Articles based on opinion (unless clearly marked and from a serious publication), misinformation or propaganda will be removed.

Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, ableist, will be removed.

Rule 5: Keep it civil. It’s OK to say the subject of an article is behaving like a jerk. It’s not acceptable to say another user is a jerk. Cussing is fine.

Rule 6: Memes, spam, other low effort posting, reposts, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.

USAfacts.org

The Alt-Right Playbook

Media owners, CEOs and/or board members

founded 1 year ago

MODERATORS

[email protected]

Biden administration moves to ban medical debt from credit reports (www.nbcnews.com)

submitted 4 months ago by [email protected] to c/[email protected]

2 comments fedilink hide all child comments

cross-posted from: https://lemmy.world/post/16427924

The Biden administration is moving to ban medical debt from credit reports.

Vice President Kamala Harris said Tuesday that the proposed rule, taken through the Consumer Financial Protection Bureau, would reduce the number of Americans with medical debt listed on their credit reports to zero, down from 46 million in 2020.

In a press call Tuesday, Harris said the move would help improve the financial health and wellbeing of millions of Americans.

Medical debt, she said, "makes it more difficult to get by, much less get ahead. That is simply not fair."

The administration calculates that if implemented, the rule would raise affected individuals' credit scores by an average of 20 points, and could lead to the approval of approximately 22,000 additional mortgages every year as a result of the cleaned-up credit reports.

A recent study estimated that one in five U.S. households liv e with medical debt, including people with health insurance; and that on average, a typical American household owes about $4,600 in medical debts.

top 2 comments

sorted by: hot top controversial new old

[–] [email protected] -3 points 4 months ago (1 children)

While this is good for privacy, ..

.. it is disasterous for lenders trying to comprehend the risk in lending to a particular individual.

Economic-integrity requires that credit-ratings be accurate, for organizations/companies AND for individuals.

_ /\ _

[–] [email protected] 1 points 4 months ago

Demand for medical care is far less elastic than demand for a lot of other things you would use credit for.

The fact that someone failed to repay exploitative medical bills for a procedure they needed to continue living isn't particularly indicative of how likely they are to be delinquent on a car loan, for example.