Earlier quoted context omitted.
So what pains does this legislation solve? To me it seemed outrageous that a company I had no dealings with, accumulated data on me without my consent, and above all - their data was breached. I thought that's what this legislation was trying to address.
Blacking out credit history would obliterate lending, which would in turn collapse asset prices and lead to a complete restructuring of entire industries and society itself. If that were on the table, you would’ve heard. This is primarily about the companies that buy your phone number from your gym membership or supermarket loyalty card and sell it to telemarketers. They won’t be missed.
Credit history companies like Equifax are very much an American thing; lending still works everywhere else.
They are such a non-topic in France that I only learned about them last year, and the French Wikipedia page on the subject is very short, and only documents the US, Canada, and China: https://fr.wikipedia.org/wiki/%C3%89valuation_des_risques-cl...
And IANAL, but it seems to me that credit history databases are made illegal by Article 5 of the 1978 "Computing and freedoms act" https://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFT...