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I won't even pretend to understand banking and finance. Much more interested in justice and protecting people from abuse.
As far as consumer credit goes, I think a much smaller not-for-profit credit reporting system would be better. It may not be as precise at determining risk levels. But then America does not exist to minimize risk for banks.
The idea is that we should err on the side of protecting people, instead of protecting banks. Banks don't have any natural right to collect information about people they aren't even doing business with and use it to potentially ruin their lives. But people do have a right to be free of slander, bullying, and abuse by banks. If credit bureaus are abusive it is within the legitimate realms of conversation to talk about ending them, and replacing them with something that is designed from the outset with consumer protection in mind.