Amid a regulatory push ahead of the White House transition, the Consumer Financial Protection Bureau (CFPB) unveiled a new rule on Tuesday to eliminate medical debt from credit reports. The regulation is expected to raise the number of mortgage approvals by about 22,000 loans per year.

The rule amends Regulation V, which enforces the Fair Credit Reporting Act (FCRA), and prohibits credit reporting companies from including medical bills in reports provided to lenders. Lenders, in turn, are barred from factoring medical debt into their underwriting decisions. The rule is effective details ⇒

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