US agencies that lend hundreds of millions of dollars a year to individuals and small businesses must develop plans for how they will disregard medical debt in assessing loan eligibility, under a Thursday directive from the White House’s budget office.
The directive, signed by Budget Director Shalanda Young, is part of the Biden administration’s push to help Americans saddled with medical debt receive more favorable terms on loans, including those to buy a home. Half of insured Americans owe medical debt, a February survey of 1,250 US adults found.
That burden disproportionately falls on Black Americans. Census data ...
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