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IMF Studies Using Web Activity to Compile Credit Scores

donotpassgo
Valued Member

IMF Studies Using Web Activity to Compile Credit Scores

Browsing Habits May Determine Credit Scores

 

In the not-too-distant future, your internet habits could help determine how much house you can buy and the rate on your next auto loan.

 

... research posted to the International Monetary Fund (IMF) website suggests companies will soon be looking at a lot more data to get an accurate picture of the risk you pose as a borrower.

 

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3 REPLIES 3
tnhomestead
Regular Contributor

Re: IMF Studies Using Web Activity to Compile Credit Scores

Saw this, not sure though what Facebook and (the other stuff we can't discuss here) have to do with paying bills. And we know no one will ever go, hey your looking at x and we don't like that, so now your credit score is trash. Lol

Message 2 of 4
BeansandRice
Established Member

Re: IMF Studies Using Web Activity to Compile Credit Scores

This is crazy, but likely soon to come. What happened to consumer advocates? 

Message 3 of 4
adelphi_sky
Frequent Contributor

Re: IMF Studies Using Web Activity to Compile Credit Scores


@donotpassgo wrote:

Browsing Habits May Determine Credit Scores

 

In the not-too-distant future, your internet habits could help determine how much house you can buy and the rate on your next auto loan.

 

... research posted to the International Monetary Fund (IMF) website suggests companies will soon be looking at a lot more data to get an accurate picture of the risk you pose as a borrower.

 


Too many legal hurdles. It won't get far or banks will get sued into oblivion. A lot of privacy invasive algos have been rolled back albeit some temorarily for violating privacy laws. Collecting broswing data is the same as someone coming to your house and looking into your window and using what you do in your home against you. 

 

This also opens the door to potential racism and discrimination. 

 

There is a book out called Weapons of Math Destruction. It talks about how today's algorythms and AI are actually bad for society even though conceived with good intentions. 

 

In the meantime, I use DuckDuckGo, ad and cookie blockers, as well as a VPN. I guess I'll get denied for a loan because of insufficient data. 

 

Where I surf does not indicate how I pay my bills, my level of income, or my net worth.  

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