Let them use whatever the hell they want. Either they'll be right (and have a useful credit rating score) or they'll be wrong, and lose custom to other banks. That's how a market works.
You have no God-given right to credit. You have access to as much credit as someone wants to offer you, and they compete each other such that the rates you get offered reflect the market-thinking of normal profit (as compared to super-normal profits) + default costs.
Of course you have no god-given anything, that's ridiculous. And so is the concept of rights.
But you do have a reasonable expectation as a citizen of a country that your common tax/output funded currency will be available to you on the same terms it is to others. Otherwise, why would you contribute to/use it?
This is already not the case in most places as all lending is done through predatory monopolies with privileged access to the central bank, and a central bank financed via government subsidy but outside of government (the people's) control.
Already we've got a toxic system that's not of much use to the people who pay for it.
Let them use whatever the hell they want. Either they'll be right (and have a useful credit rating score) or they'll be wrong, and lose custom to other banks. That's how a market works.
You have no God-given right to credit. You have access to as much credit as someone wants to offer you, and they compete each other such that the rates you get offered reflect the market-thinking of normal profit (as compared to super-normal profits) + default costs.