In India the banks are testing a new method of harassing indebted students: Find them on Facebook and Twitter and embarrass them about their debts.
Banks poke student loan defaulters on social media, embarrass employers
Banks are getting adept at using social media to embarrass students who have defaulted on repaying education loans. With bad loans rising, some are using modern tools such as Facebook and Twitter to hunt down defaulters. Their ingenuity is understandable because defaults on student loans have soared 70-80% this fiscal due to a weak job market, well over twice the last fiscal’s rate.
How do banks own government? Let me count the ways. Bankers just think of themselves as aristocrats wherever they are. Being able to grant credit, they are given cart blanch to put people in power, and too often to even print the government's money. Bankers just look at the public like slaves, and students are no different. This story will probably embolden some American bank to do the same. Maybe even the government agencies will use this nasty technique.