Credit reporting is a maddeningly opaque and unpredictable process for a score that affects so many peoples lives so dramatically. The govt. should take the lead on two items:
1) Increase transparency in credit reporting by providing documentation on exactly how credit scores are computed, i.e. what affects credit scores and by how much. This may require work to effect consistency in how the various credit bureaus effect their calculations. It may also require additional regulation to require credit bureaus to adhere to published process
2) Increase participation by consumers by providing simple, low-cost recourse for consumers to have errors in their credit reporting repaired
When consumers are fully aware of the process works, they will likely be more responsible with their credit