Medical Debt: A Growing Concern
CFPB’s Solution: Protecting Consumers from Medical Debt
The Consumer Financial Protection Bureau (CFPB) wants to help Americans who owe medical bills. Medical debt is a big problem in America. It can make it hard for Americans to buy a home, get a loan, or even have enough money for food and clothes. The CFPB’s new rules would stop medical debt from being on credit reports.
Medical debt is a big problem because many Americans can’t afford to pay their medical bills. This means they have to make tough choices, like skipping meals or cutting back on other necessities. The CFPB‘s new rules are meant to help Americans avoid financial trouble and make sure they can get the medical care they need.
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A Step Towards Financial Relief: The C FPB’s Next Move
Many Americans are happy about the new rules. They think it’s important that Americans shouldn’t have to worry about medical debt when they’re trying to get better from an illness or injury. The CFPB will take comments from the public and make a final decision soon.