Locally based credit: The world is too big and complex. The Big Three saw a need and filled it.
Not without problems, as you note.
https://tinyurl.com/Equifax-firings
Worth a read just to see how loose Equifax, at least, was. But 'No Big Fi executives were harmed in this operation.'
Today the Equifax Stock was Halted for news. The news was CEO resigning. Also Equifax for 2 weeks were sending people to a fake phishing site instead of their own site. Whoever allowed these huge credit reporting agencies to ever be created in the first place? Credit should be locally based.

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