Via Politico:
Three credit reporting giants that collect financial data on 220 million Americans face a major crackdown if Democrats regain power in Washington, with Joe Biden and senior lawmakers calling for a sweeping industry overhaul.
Equifax, Experian and TransUnion play a pivotal role in providing credit histories that lenders use to vet potential borrowers. Democratic lawmakers and consumer watchdogs warn that a system dominated by three companies breeds erroneous and harmful financial information about millions of people who may lose access to mortgages and car loans.
They say it also amplifies economic disparities and financial discrimination faced by people of color, who may lack credit histories in the first place.