Chinese regulators to push tech giants to share consumer credit data

Re:Chinese regulators to push tech giants to share consumer ... by swiley on Monday January 11, 2021 @09:46AM (#25729448)

This is where the US is heading if we continue our down our current path. I wouldn't be surprised if Microsoft started sending data from linkdin to the credit agencies.

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by pbk1 on Monday January 11, 2021 @10:57AM (#25730618)

Lenders can and do buy this kind of data to underwrite their borrowers (credit cards, BNPL, student loans, mortgages, etc.). They don't need to get it from credit bureaus. Anyone who is underwriting off of bureau data alone is a decade (or more) behind state of the art at this point.

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by MichaelZuo on Monday January 11, 2021 @11:29AM (#25731202)

So... there already is a quasi-social credit system in place for anyone purchasing insurance in America?

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by sneak on Monday January 11, 2021 @09:59AM (#25729667)

Heading? All large financial transactions, including loans (the topic of TFA) in the US are already reported to the state.

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by derivagral on Monday January 11, 2021 @10:05AM (#25729779)

I wonder if they'll broker this exchange; if the state says you can get the data, do you go to Alipay or the state's version of Clearbit?

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by johncla99 on Monday January 11, 2021 @10:10AM (#25729875)

Sorry...TFA? What's that?

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by artificialLimbs on Monday January 11, 2021 @10:13AM (#25729918)

The F*king Article

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by tonyedgecombe on Monday January 11, 2021 @05:29PM (#25738464)

There is no ‘*’ in the word fucking.

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by karmasimida on Monday January 11, 2021 @10:23AM (#25730092)

Won't IRS have full access to people's financial history anyway? Borrowing is taxable.

[ Parent | on HN ]

Re:Chinese regulators to push tech giants to share consumer ... by gruez on Monday January 11, 2021 @11:43AM (#25731465)

>Borrowing is taxable.

it is?

[ Parent | on HN ]