WASHINGTON–The Federal Trade Commission plans to require the nine largest property-casualty insurance companies to provide data to the agency on the impact of credit scores on their personal lines insurance rates.
The agency said the data will be used to prepare another study on whether the use of credit scores in determining rates is discriminatory to minorities.
FTC spokesman Frank Dorman would not say which nine companies the commission will seek to obtain data from, and that the timing of the process would depend on the comments received. “It could be months,” he said.
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