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additional medical debtThe White House
•85% Informative
American Rescue Plan funds are being used to eliminate an estimated $7 billion in medical debt for up to nearly 3 million of Americans .
Under the CFPB proposed rule, there would be zero Americans with medical debt listed on their credit reports, down from 46 million in 2020 .
Congressional Republicans have repeatedly opposed efforts to lower health care costs and for years have tried to repeal the Affordable Care Act .
The Biden-Harris Administration has made great progress in reducing the impact of medical debt since the President and Vice President launched a whole-of-government effort.
Too many nonprofit hospitals are failing to provide sufficient financial assistance or make known the availability of financial assistance to low-income patients.
CFPB is already taking action to ensure that medical debt collections follow the law.
The Biden-Harris Administration is taking steps to reduce the role of medical debt in the underwriting of loans for its flagship 7(a) guaranteed loan program.
The VA implemented a streamlined process to make it easier and faster for lower-income veterans to get their VA medical debt forgiven, already providing relief to over 10,000 veterans and saving them more than $10 million in copay debt.
The Federal Housing Finance Agency validated and approved the use of VantageScore 4.0 , along with FICO 10 T, for the underwritten mortgages by Fannie Mae and Freddie Mac .
VR Score
86
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87
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34
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