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.

The rules ban credit agencies from including medical debts on consumers' credit reports and prohibit lenders from considering medical information in assessing borrowers.