Japan to revamp bank monitoring to revive regional economy

Japan needs something like America's "fair lending act."

In Japan, a bank can turn you down for credit, and not tell you why. This makes it hard for would-be borrowers to understand what they actually need to do to obtain credit. In America, if a bank declines to offer you credit, they are required by law to tell you why, and you are entitled to a copy of your credit report at their expense to prove that the reason you were declined was legitimate.