Calif. May Ban Credit Scoring In Homeowners

NU Online News Service, July 1, 10:55 a.m. EDT, New York?A national trade group for insurers said, despite its opposition, that a California bill to ban the industry's use of credit scoring to set homeowner rates has a fair chance of passage.

The measure, SB 691, which goes to the State Assembly next week, was approved by the State Senate last May and is likely to be signed by Democratic Gov. Gray Davis if it passes both houses, said Peter Gorman, Alliance of American Insurers vice president.

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