Biden admin moves to scrub medical debt from credit reports. What you need to know - Unpaid medical bills will no longer appear on credit reports, where they can block people from mortgages, car loans

The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, according to the bureau.

The change is estimated to raise the credit scores by an average of 20 points and could lead to 22,000 additional mortgages being approved every year, according to the bureau. Vice President Kamala Harris said in a statement announcing the rule that it would be “lifechanging” for millions of families.