Unpaid medical debt will no longer affect credit scores, according to a new rule from Biden administration regulators who want to mitigate the financial repercussions of those bills.

Lenders soon won't be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. for mortgages, car loans or business loans.

On Jan. 7, the Consumer Financial Protection Bureau finalized a rule that “will ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions,” according to the CFPB website.