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Facebook Is Not The Great Predictor Of Creditworthiness It Was Hoped To Be – Consumerist

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The Wall Street Journal reports that lenders who had once been keen on the concept of using Facebook data to evaluate borrowers have soured on the idea, thanks to regulatory restrictions, and recent changes in the data that Facebook shares with third parties.

From Facebook Is Not The Great Predictor Of Creditworthiness It Was Hoped To Be – Consumerist

Interesting that the headline implies that Facebook is not a predictor of creditworthiness, but that’s not what the article says. The article says that lenders have been pegged back by regulators and cut off by Facebook. This suggests to me that Facebook data is at worst unproved as a predictor and persons of a more conspiratorial bent might conjecture that Facebook knows this, which is why it is cutting off the data flow until such time as it develops its own products or partnerships.

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