approving you for a loan. we will get through. this trust me. here to discuss is personal finance lauren lyons kohl. what is going on. >> developing countries have been doing. this facebook might be noticing a potential revenue for the future. that's why they are reserving this issue. in developing countries, people don't have credit histories like we do in the u.s. this is a pretty good idea over there. here it's a different story. >> walk us through this. if i am going to get a loan, the potential is that banks now will have access to this information and god knows they will want it because if you have gone to try to get a loan any time recently you know it's 80000 pages of paperwork to fill out. onerous. of course banks want this information. looking at my friend's credit history and that will effect me. >> the more information get. last thing the bank wants you to do is have you default on the loan. look at more information to determine whether or not you are a credit risk, they dual it. one thing to keep in mind is you have to authorize them