(Pierre, SD) — One South Dakota banking expert is speaking out about a recent federal ruling that will remove certain debt from consumer credit reports, affecting about 15 million people. South Dakota Bankers Association President Karl Adam says the change to remove medical debt is not as good as it sounds. Adam says it’s important to have all debt information listed because, if not, the bank could give a loan that would realistically be difficult for that person to pay back. Close to 18 percent of South Dakota adults have medical debt, which is the highest percentage of any state, according to data from the Peterson-KFF Health System tracker.
