Morning Minute: Can your social media activity affect your ability to get credit?

Could your status update on Facebook impact your ability to get a loan later? An article in the Wall Street Journal, “Borrowers Hit Social-Media Hurdles,” looks at a trend that could have consumers rethinking their online activity.

According to the article, more lenders are looking at a potential borrower’s activity on Facebook, LinkedIn, Twitter and other social media to determine their creditworthiness or to double check that the personal and job information you listed on your loan application matches what you have posted online.

The trend, which could grow, is drawing the attention of federal regulators. Read more in the Wall Street Journal article. What do you think of this trend?

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *