Credit Agency Requests Access to Consumers’ Social Data

What's Next In Payments®
8:59 PM EDT June 7th, 2012

Schufa, the largest credit rating agency in Germany, is developing tools to mine data from consumers’ social media profiles that would inform those users’ credit scores, Spiegel Online says.

Schufa’s confidential plans were obtained by news outlet NDR this week. When asked for comment, a spokesman for the agency told Spiegel that “everything is happening within the legal frameworks in Germany.”

Read the full story here.

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