
Facebook's New Plan: Help Banks Figure Out How Poor You Are to Deny You Loans - triplesec
http://mic.com/articles/123452/facebook-to-let-banks-discriminate-based-on-friends-credit-score
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joefarish
"The use of social network contacts as a basis for establishing credit
worthiness is questionable; just because some of my friends have bad credit
scores doesn’t mean I do."

I'd wager that if you're friends have bad credit scores it is more likely that
you will have a bad credit score. Does the author seriously think that
Facebook / banks will assume that someone has a low credit score because they
went to school with somebody who has a low credit score?

If you are statistically more likely to default on a loan you can't reasonably
expect not to pay a higher interest rate.

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triplesec
OK so it's not new, it seems. Here's Venturebeat.
[http://venturebeat.com/2015/08/04/facebook-patents-
technolog...](http://venturebeat.com/2015/08/04/facebook-patents-technology-
to-help-lenders-discriminate-against-borrowers-based-on-social-connections/)

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daemin
In some ways this looks more and more like sesame credit in China.

We could say that this is another reason to get off Facebook, but
realistically we'll just get used to it and continue using the service.

