In a big brotheresque move by the credit industry, credit card applications, mortgages and credit lines may soon take into consideration where you live, work and shop. If you live in an area of the country, or a particular city, with high foreclosures, you’ll be more likely to be turned down. If you work in what the credit industry call “volatile” professions like real estate or the automobile industry, you will be more likely to be turned down. And yes, if you shop at discount stores like Wal-Mart….you will increase your risk of credit rejection.
These are just a few things being discussed as the credit industry tries to spin the financial debacle from being about their greed, to passing the buck to consumers.
Progressives have been fighting for the right of privacy and against corporate data mining for years, this is one of the reasons why.