Facebook Patent Determines Creditworthiness By Your ‘Friends’ List

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If this is true, you better start recruiting better friends on Facebook. You can always add me to your friends list, not for better credit, but someone to hang out with when we are all denied credit thanks to Zuck's patent. :D

“When an individual applies for a loan, the lender examines the credit ratings of members of the individual’s social network who are connected to the individual through authorized nodes (connections),” the patent states. “If the average credit rating of these members is at least a minimum credit score, the lender continues to process the loan application. Otherwise, the loan application is rejected.”
 
I would sue any bank who uses a malware company such as Facebook for reference. Totally sick development.

It's not legal by any form or matter, it would basically force everyone to join Facebook if they wanted credit.
 
rofl, I imagine it will be allowed too.
Another reason why facepedia should be ditched.
Way to create segregation, they are doing society no favours.
I too would take issue with any institution employing this method.
 
Judge your friends by their bank accounts.


Apparently.

Facebook is looking more and more like a utopian B science fiction movie from the 70s.
 
They might be trying to patent this, but what bank would even consider this?
Most likely they would run into state regulations that would make this illegal.

So are they going to deny credit to anyone who is not on Facebook?

If they actually start doing this, maybe I can spin this to my advantage with my high credit rating.
I can join Facebook, and start charging people to friend them to bring up their "friends" credit rating average :)
 
Oh and most probably banks themselves have some direct or indirect investments in Facebook, so they'd be big winners in this.
 
nutzo said:
They might be trying to patent this, but what bank would even consider this?
Most likely they would run into state regulations that would make this illegal.

So are they going to deny credit to anyone who is not on Facebook?

If they actually start doing this, maybe I can spin this to my advantage with my high credit rating.
I can join Facebook, and start charging people to friend them to bring up their "friends" credit rating average :)
Click to expand...

Hmm, but your own credit rating would be dragged down though... being friends with these untrustworthy insolvent losers...
 
What does that make of those of us who outright refuse to actually use Facebook personally? I have little friends, but I keep getting those "You may know these people" letter from Facebook. Will they simply choose to categorize me base on that it is able to defer from those that its system thinks have some relation to me?
 
I don't see it getting buy-in from the banking system at large. As if they'd abandon the almighty FICO.

However, you've seen Facebook adding features to be able to transfer money between friends. It wouldn't be unreasonable for them to open this up into a peer-to-peer lending among Facebook users system. Then leveraging the information they already have about users, they could generate a score for you to use in your decision to lend someone money.
 
Facebook as a lending tool.......really, really........

so the question is......how does Facebook gain access to your credit information?

I have two words for you Facebook......fuck you.

Oh yeah......I don't use Facebook.
 
Goddamn right, stay off that crap. There have been so many studies linking users to narcissism, insomnia and general stupidity. I personally hate Zuckerberg beyond imaging, would love to see this company fold like myspace. Who's been in the whitehouse once a week since Ofoolio took office? Google, and Facebook is right there with them pushing these god forsaken agendas. Zuckernuts probably watched that "White People" movie and bawled his eyes out. Worthless POS.
 
So the end result is that nobody wants to befriend anyone who is not "well off" and those that have good income drown into friend requests? I`d laugh if it wasn´t so sad. :eek::p
 
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