A credit reporting system that is motivated by profits and which provides no consumer choice will always be extractive. And people will always be treated like products, not human beings. Compared to the current system of opaque algorithms, inaccurate data matching, security breaches, and many, many hoops when there’s a problem, we’d welcome more government oversight that tames existing unscrupulous actors.
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What If We Nationalized the Credit Bureaus?
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A credit reporting system that is motivated by profits and which provides no consumer choice will always be extractive. And people will always be treated like products, not human beings. Compared to the current system of opaque algorithms, inaccurate data matching, security breaches, and many, many hoops when there’s a problem, we’d welcome more government oversight that tames existing unscrupulous actors.