Money Lender using social media to grade applicants

A Midlands North West MEP has called for moneylenders to be banned from using social media as a means of deciding on the credit worthiness of applicants.


Sinn Féin MEP Chris MacManus has made the calls after a major European report singled out a specific Irish moneylender for using this practice.


A report from Finance Watch quotes a money Lenders website as stating that they sometimes research comments and opinions made public on social media sites and match information on these sites with the data in relation to whether or not to provide credit.


Chris MacManus says the use of social media in assessing credit worthiness raises many issues of data protection: