(CNN)– Two industry groups are suing to block the Biden Administration from banning medical debt from appearing on credit reports. The Consumer Financial Protection Bureau finalized the rule last week which also prevents Leanders from using certain medical information in loan decisions. It is expected to remove roughly $49 billion in medical bills from the credit reports of about 15 million Americans. But in a lawsuit last week, the industry groups representing the credit bureaus and debt collectors argue the rule violates the Fair Credit Reporting Act. Categories: News Tags: Fair Credit Reporting Act, Joe Biden, President Joe Biden