The credit industry isn’t working if you ask consumer advocates. The Big Three credit agencies—Equifax, TransUnion, and Experian—are black boxes, gathering and selling consumer data, grading us on our financial behavior without letting us in on how they do it, and perpetuating damaging racial disparities while they’re at it.
That’s why consumer advocates are calling for a public credit reporting agency, and why President-elect Joe Biden has adopted a proposal for just that from left-leaning think tank Demos.
