Texas Holds Hearings on Credit Scoring Today

October 22, 2003

The Texas Department of Insurance (TDI) is holding hearings today at its offices in Austin on proposed rules to further regulate the use of credit-based insurance scores.

The wide-ranging insurance reform bill SB 14, passed earlier this year by the Texas Legislature, includes provisions requiring a state study of insurance scoring and examination of insurers’ scoring models by TDI.

Consumer advocate Dan Lambe of Texas Watch told the Associated Press new rules should also include a cap on how much an insured can be “penalized” for bad credit.

The hearings will be available online at the TDI Web site in Real Audio.

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