New tech could let potential lenders check credit scores of your - WDRB 41 Louisville News

New tech could let potential lenders check credit scores of your Facebook friends

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LOUISVILLE, Ky. (WDRB) -- Getting approved for a loan could soon depend on who you are friends with on Facebook.

The social media site just patented new technology. Part of it includes a way to allow lenders to use a borrower's social network to determine whether he or she is a good credit risk.

When someone applies for a loan, the lender somehow examines the credit ratings of your Facebook friends.

That said, it's not clear if Facebook plans to use it, and there are some legal issues with it.

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