Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.
The bureau released a request for comment on “relationship banking” for consumers, especially in rural areas, as part of the CFPB banking town hall at Montana State University. ACA board member Jennifer Whipple from Montana spoke at the event on behalf of the ARM industry.