|Topics and Issues|
The business model and services provided by the public credit reporting agencies are not without flaw, and the Biden Administration and Congress could, via legislation and oversight, continue to work to address policy goals including racial inclusion. A public credit reporting agency, in contrast, does not logically or necessarily fix the problems of credit-relevant data collection and credit scoring. Proponents of a public credit reporting agency rely on a single fundamental assumption: that government is better placed than industry to provide competitive services with strong oversight in the most efficient manner to the maximum number of people. Never has this been shown to be the case.