Industry groups sue over Biden ban on medical debt from credit reports

Two groups representing the credit reporting and credit union industries have filed a lawsuit challenging a new rule adopted by U.S. President Joe Biden's outgoing administration banning the inclusion of medical debt in American consumers' credit reports. The Consumer Data Industry Association and Cornerstone Credit Union League filed the lawsuit in federal court in Sherman, Texas, on Tuesday, shortly after the U.S. Consumer Financial Protection Bureau finalized the regulation. The agency said the rule would remove $49 billion in medical debts from the credit reports of about 15 million Americans.