> Open a lending institution that will lend money to anyone with no credit checking? Hope that you don’t get adverse selected out of business, but if you don’t

> Open a lending institution that will lend money to anyone with no credit checking? Hope that you don’t get adverse selected out of business, but if you don’t and can compete without it, demand for credit scoring will plummet. This seems unlikely to succeed. You'd wind up having to give the same rates to everyone, because you have no real way to assess risk individually. As such, you wouldn't be able to compete on rates for people with good credit.