
Companies Consider Magazine Subscriptions and Phone Bills When Making Loans - dsgerard
https://www.wsj.com/articles/need-cash-companies-are-considering-magazine-subscriptions-and-phone-bills-when-making-loans-11568280601?mod=rsswn
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mikece
What's coming is an Americanized version of the Chinese social credit rating
which takes into account not just your history of making payments but
everything else to build a psychographic profile to determine how much of a
credit risk one is. This will pose many problems from inherent bias,
conclusions based on faulty assumptions, and unanticipated consequences far
beyond the initial design scope. Yes, it will allow for efficient FinTech
business processing but at the cost of our humanity and possibly much more.

