Mike Kreidler has adopted a new rule that prohibits the use of credit data, as it is discriminatory. Washington Insurance Commissioner Mike Kreidler has announced that he is adopting a rule that will ban insurers from using an individual’s credit score to calculate their premiums. Kreidler says that using credit scores discriminates against people of color and low-income individuals. That said, even as the Washington Insurance Commissioner seeks to keep the rule in place over the longer term, there is strong opposition in the state Legislature. The rule bans insurers…
Read MoreWashington insurance commissioner bans use of credit score for premiums calculation
