IMF Proposes Tracking Your Web History to Determine Credit Scores

[Anonymous]

The researchers argue that if lenders have a better picture of a client's entire history, they may be more willing to be lenient with them. “Banks tend to cushion credit terms for their long-term customers during downturns,” they write. 

https://interestingengineering.com/imf-proposes-tracking-your-web-history-to-determine-credit-scores

[Anonymous]

Yeah I'll pass. 

[Andypanda]

So many comments to make, so many violations of TOS.

[sxa001]

I agree there are a lot of areas of discussion that could violate the TOS here, but privacy concerns aside, I don't think it is too controversial to say that one of the original intents of the current credit scoring system was to try and make lending more fair.  If they did use identifying data from web search history that could bring unfair bias into the lending process.  

Working groups get together and talk about all kinds of crazy ideas all the time, I don't see this one going very far in the long term, or at least I hope not. 

[blindambition]

The 5 things we don't talk about have been introduced, remember TOS please.

[Mr_Mojo_Risin]

Uh this sounds pretty intrusive. That'll be a hard pass for me!

[Schwartzinator]

Not. A. ******. Chance. They already have enough knowledge of my purchase "history" when they approve the transaction. 

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[ChargedUp]

Between Sagestream, LN, etc., their own website analytics and the myriad of odd offerings that the big 3 have available, I think there is plenty of info for lenders to make an informed decision currently. 

[Revelate]

I can't see it's happening.  EU first, Cali second, we might not get all our data back but it'll basically render this moot.

and like others said no thanks, I will pony up the $10 bucks a month to go get some sort of scrubbing VPN service and if one doesn't exist that is satisfactory I'll build the damned thing myself.

[edwardw818]

I don't see ANY upside to that... I love to s--tpost/troll on FB, I'm somewhat outspoken otherwise, and lately I've been a guy who's always been broke for the last 11 years who finally has the means to afford the things I've wanted, so although I finally have 5 figures in savings, I might be seen as someone who's going a bit exuberant with spending.

Even if all I posted were cat videos and Bible quotes and spent modestly on social media, are financial institutions REALLY going to be able to make any accurate financial predictions based on what Meowington is doing? "Ooh, he made that jump! 5 FICO points!"