What are the Fair Credit Reporting Act Implications?
The Fair Credit Reporting Act requires that applicants be informed about the consumer reports that were used to make decisions on their insurability. If an “adverse decision” (rejection or higher price) is made based upon an unfavorable MVR (Motor Vehicle Report), CLUE report (Comprehensive Loss Underwriting Report) and/or Credit Score, the applicant must be given an opportunity to review the report for accuracy. All of our consumer reports are ordered through ChoicePoint, therefore our FCRA letters to consumers provide the following contact information: ChoicePoint P.O. Box 105108 Atlanta, GA 30348-5108 1-800-456-6004 www.consumerdisclosure.com Discrimination Issues Are credit scores unfair to minorities, women, or people who live in certain neighborhoods? No. Quite possibly the best aspect of utilizing insurance scores is that they are objective. Consumers have the ability to control or improve their own rating based on their individual efforts. The following information is not used
