New Law Bans Using Social Media To Determine Credit Worthiness

Albany, N.Y. - Governor Cuomo has signed off on a new law preventing consumer agencies from using your social media accounts to determine your credit worthiness.

The governor says basing someone's credit score on who they know online is an invasion of privacy and can penalize low-income residents. According to the US General Accounting Office, an estimated 75-percent of credit scores are wrong since they're based on incorrect information.

A low score could affect people when they go to apply for jobs or even fill out a housing application.

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