The Biden administration is moving to ban medical debt from credit reports. Medical debt, she said, "makes it more difficult to get by, much less get ahead. A recent study estimated that one in five U.S. households live with medical debt, including people with health insurance; and that on average, a typical American household owes about $4,600 in medical debts. "Medical bills on credit reports too often are inaccurate and have little to no predictive value when it comes to repaying other loans." The association said it had also extended the time before medical collections debt appears on credit reports and deleted resolved debts and medical collection debts below $500.

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Persons: Joe Biden, Kamala Harris, North Carolina Governor Roy Cooper, Biden, Harris, Rohit Chopra Organizations: U.S, North Carolina Governor, Chavis Community Center, Consumer Financial Protection Bureau, Consumer Data Industry Association Locations: Chavis, Raleigh , North Carolina, U.S