I get the rest of your post, but why this part? I say subastantial REWARDS!!!
The following should be enacted: 1: Substantial penalties for any and all of the shenanigans that people here have had pulled on them. Penalties in the hundreds of thousands to millions of dollars range.
I'd much rather see reporting times changed. It is ridiculous for a late payment to show up on your credit report for 7 YEARS! I believe that it should be a system where if you don't have another late for 2 years it drops off, if you do have another late the time just continues to rest going by your last late payment with no late payment staying on for longer then 5 years.