Clarke has said that using consumer credit reports as a factor in setting insurance rates has had a crushing impact on Michigan drivers as the recession hit Michigan particularly hard, leading to plunging credit scores and sharply rising auto insurance rates. Michigan reportedly has the highest auto insurance rates in the country, and an unemployment rate that is higher than the nationwide average.
Conyers said on his Facebook page last week that "Auto insurance rates should be based on your skills and responsibility behind the wheel, not extraneous factors outside your control."
Insurance companies are likely to oppose the bill, as they see consumer credit scores as a sign of the ability of people to pay their bills. Like other financial institutions, auto insurers have increased their premiums as non-payment risk increases.
Clarke has introduced several bills aimed at helping his constituents in Michigan and other states, including bills to forgive all student loan debt and direct more federal money for Detroit-area infrastructure projects.