[pilsetnieks]

It's also interesting seeing the American perspective arguing about who is allowed to do credit ratings and who isn't, and why.

Why not do away with the whole concept of credit rating entirely? In Europe we have government (or government adjacent entities) run credit report systems but the only data they get and you get out of them is if you've ever been delinquent (thanks to the GDPR - before that they shared more info.) And even then you have to be a registered financial institution to even be able to ask for the info. There's no scoring or rating based on how well you've performed as a consumer with your credit cards or whatnot, just a red flag in case you're a serious risk of nonpayment.