Social Credit Score: Bank edition
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I’ve never been able to get people to come to terms with the idea that a credit score is only one very small step away from the hugely feared and much derided Chinese social credit system. Except that their system isn’t a single monolithic score, it’s run by a myriad of a different smaller governmental agencies, and it mainly affects companies. But oh no China’s the bad guy with their system.
I'm on board.
How can anyone think that having an organization like Equifax monitor and document all of your financial transactions and then use the information to advise banks whether or not to lend you money is legal, let alone moral?