Credit Bureau To Scan Social Networks
FINANCIAL PRIVACY—GERMANYJune 7, 2012
The Local reports on plans by Germany's largest credit bureau to use social networks to determine if someone is credit-worthy. Schufa has established a research group to determine how to link social networking information to other details about a person's credit rating, the report states. It also plans to link personal characteristics with the ability or willingness of a person to pay off loans. The plan has raised concerns among consumer protection and data protection groups. "People who are on Facebook do not think that what they say there could one day be influential in their credit status. That crosses a line," said Edda Castelló, data protection commissioner in Hamburg.