The credit system in the US is already a pretty horrific version of this, and nobody really seems to care and it’s been like this for decades. And it’s not even just used for credit anymore, renting an apartment now usually requires a credit check.
I had thought credit karma and similar services were at least adding transparency to the industry but was recently in for a rude awakening when trying to get preapproval for our first mortgage. It turns out, the whole idea of a credit score is kind of a lie. Your credit report can be pulled by creditors, and creditors can interpret it in different ways as they see fit. Services like credit karma are just making up their own score based on the report which can be drastically different than what the creditor decides it is. And credit pulled for different uses somehow ends up with different scores, e.g. for a credit card approval your score will often show up higher than for a mortgage. You can check your credit report for free, as required by law, but nobody is required to tell you your credit score. You can also basically just pay to remove many things from your credit report.
It’s insane and the fact that this fairly old and low-tech institution has not managed to be regulated successfully or made fair to the average person, bodes very poorly IMO for regulation of privacy and fairness based on future technology.