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“When an individual applies for a loan, the lender examines the credit ratings of members of the individual’s social network who are connected to the individual through authorized nodes (connections),” the patent states.
“If the average credit rating of these members is at least a minimum credit score, the lender continues to process the loan application. Otherwise, the loan application is rejected.”
According to the patent, the lender would be able to access a potential borrower’s social circle by submitting a request for information from Facebook’s databases. They would then receive a series of lists – grey, black and white – that would be used to determine the average credit score for the would-be borrower’s friends.