Facebook friends can affect your ability to secure loan

LOS ANGELES

Several tech startups are using social data to determine the risk of lending to someone.

One company, Lenddo, determines if you are friends on Facebook with someone who was late paying back a loan to them. That becomes bad news for you.

The news is even worse if the delinquent friend is someone you frequently interact with.

But some in the financial industry are skeptical about this, saying consumers can easily control how many Facebook friends they have.

Copyright © 2024 KABC Television, LLC. All rights reserved.