[Aditya_Garg]

> You want to have your cake and eat it too, and it would be nice if that was possible but it is not because nobody is going to give you cheap loans if it comes with too much risk.

OP is not saying that he doesn't want anyone performing credit checks. He's saying that he wants to be able to choose a company that values privacy. Currently, there's no option of choice for the consumer, and that's a problem.

[chii]

If the bank loses too many customers because a competing bank is offering to use a better credit checking company, you can bet that they are gonna change.

Most people don't care enough, and only select on price. So the bank gets the cheapest option for nonvisible backends (like credit checks)