WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued a statement regarding the Consumer Financial Protection Bureau’s (CFPB) new proposal to eliminate medical debt from consumer credit reports.
“Medical debt can happen to anyone, at any time, and does not reflect creditworthiness. No one should be forced to pay higher rates for a mortgage or a car loan or deal with aggressive debt collectors just because their family member got sick or they had a medical emergency,” said Brown. “By heeding our call to eliminate medical debt from consumers’ credit reports, the CFPB is protecting Americans’ credit scores if they get sick or get into an accident – it will save people money, and it’s just common sense. When CFPB finalizes this rule, all Americans will have medical debt removed from their credit reports.”
Senator Brown has been an advocate for the elimination of medical debt from consumer credit reports for some time. In March, he led his colleagues in sending a letter to CFPB Director Rohit Chopra urging him to finalize this rule. Additionally, Brown reiterated his call for action during a hearing in November.
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