NU Online News Service, May 12, 3:33 p.m. EST
WASHINGTON–A House committee heard rival opinions on insurers use of consumer credit scoring that was called both justified and unfair.
Speaking on behalf of the industry, in an appearance before the Subcommittee on Financial Institutions and Consumer Credit of the House Financial Services Committee, David Snyder, American Insurance Association vice president and associate general counsel, defended the use of credit scoring as an appropriate tool in helping set premiums for personal lines.
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