FCRA Vote Scheduled

FCRA Vote Scheduled

Washington

The House Financial Services Committee was scheduled at press time to vote on legislation reauthorizing the Fair Credit Reporting Act, although there was no indication whether the committee would address a provision opposed by the insurance industry.

The controversial provision would mandate a Federal Trade Commission study on the impact of insurance company use of credit reports on the availability of consumer credit.

At press time, industry sources said there did not appear to be any amendments pending that would either eliminate or modify the provision. However, they noted, it is possible that an amendment could be offered during the committees session.

For an update, see the National Underwriters Online News Service at www.nationalunderwriter.com.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, July 28, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.