iSpies: Banks are in on it too?!

I need something clarified, the article mentions that a company (Media6degrees) is working on technology to allow banks to assess their customers on their social-networking. What’s the deal with that? So is it some kind of massive online data space of matching people up with their credit on the banks data base? If I’m friends with someone with poor credit and the bank won’t let me get a loan for that, is that legal? I think if this is the case, this technology has gone far beyond invasive, borderline information trafficking. If anyone can dig up any information on this I would appreciate it, cause you guys know me. If I can get someone to do it for me, why bother?