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Commercial Credit News
|Consumers against financial companies using social media data|
|Tuesday, 01 September 2015|
As financial companies increasingly look to use social media to assess an individual’s suitability for products such as mortgages, loans and credit cards, research from business insights expert Equifax reveals that 75% of consumers are unlikely to allow them access to this data.
The online survey, conducted by YouGov, found that 76% of consumers are against financial companies using the information they post on sites such as Twitter, Facebook, Instagram and LinkedIn to assess their application for a financial product. Over half (52%) said it would make them angry.
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