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Originally published on February 12, 2021 12:02 pm
Washington Insurance Commissioner Mike Kreidler wants to ban the use of credit-based insurance scoring. He says it discriminates against low-income people and people of color. But the proposal faces stiff opposition in the Legislature. CREDIT: InvestmentZen / Creative Commons / investmentzen.com
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How much you pay for auto, home and renters insurance depends a lot on your credit score. If your credit is good, you tend to pay less. If it’s not so good, you likely pay more.
Now, Washington Insurance Commissioner Mike Kreidler wants to ban the use of credit-based insurance scoring to set rates. He says it’s a matter of racial justice. ....

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