Your Facebook Friends Might Determine Your Credit Score
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You are the company you keep just gained a whole new meaning. A few tech start-ups found that some financial lending companies use social media connections to determine the risk of lending to people, who do not already have an established credit score. Using social data the tech start-ups discovered that companies like Lenddo are less likely to issue a person a line of credit if they are friends with someone on Facebook, who is late making a payment.
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Email Danielle Tarasiuk here.