Are banks assessing your creditworthiness based on your social media profiles?

GigaOm has an interesting article titled “New breed of lenders use Facebook and Twitter data to judge borrowers” which looks at a growing trend in financial services industries. Banks and other lenders are starting to look at customers’ social media profiles when assessing their needs and the risks they may pose as debtors. An emerging South African consumer protection framework could support extension of this behaviour to South Africa, if it hasn’t already been adopted.