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Opponent of Credit-based Insurance Scores Named to Key House Subcommittee Post
Rep. Luis Gutierrez, D-Ill., has been named chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. This subcommittee oversees all financial regulators, such as the Federal Deposit Insurance Corporation and the Federal Reserve, as well as all matters pertaining to consumer credit and access to financial services. Specifically, the subcommittee has stated it will “review the use of credit information by non-credit businesses, as in cases where insurance companies use credit-based insurance scores to evaluate applicants and existing policyholders.”
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