> but rather your file now looking so bad that you can't legitimately get credit if you want it. Yes, but under the new system, the bank can't just tell a cred

> but rather your file now looking so bad that you can't legitimately get credit if you want it. Yes, but under the new system, the bank can't just tell a credit reporting agency that a person they never interacted with failed to make a timely payment. If the bank can't prove beyond a reasonable doubt that they actually entered a contract with you, then they can't affect the actual person's credit rating.