Feedback at 5:00: Would You Think Twice About Your Online Friend - Northern Michigan's News Leader

Feedback at 5:00: Would You Think Twice About Your Online Friends If A Loan Depended On It?

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Wednesday's Feedback at 5:00:

Facebook, the vast web of close, and sometimes random connections, could be stopping you from getting a loan you need.

That's because some start-up lending companies are using social data to determine your risk.

One of those companies, called "Lenddo" looks at your connections to determine if your Facebook friends are late on paying back their own loans.

So, if they don't pay one time, that reflects back on you.

Traditional lenders say they rely on your credit score, which looks at your payment history.

In tonight's Feedback at Five, we want to know if this would make you think twice about your social network connections.

 

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