It turns out that the (digital) company you keep can have a profound influence on your financial life. Some lenders are now beginning to investigate your tweets and Facebook friends to learn more about your spending habits. Apparently, they are also judging you by your friends’ activities. If your online acquaintances are delinquent or have accumulated too many DUIs – you may be denied a loan.
Many of us might consider it unfair for banks to withhold funds due to my neighbor’s unpaid bills. Why should I suffer if my coworker’s birthday party was at Seven Eleven instead of the Hilton hotel?
Yet, some financial institutions argue that the information gleaned from your social media interactions is mo… Read More »