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Facebook Wants Your Banking Data

posted by martyb on Wednesday August 08 2018, @01:12AM   Printer-friendly
from the please-practice-pragmatic-paranoia dept.

bradley13 writes:

Facebook wants banks to "share detail financial information about their customers, including card transactions and checking account balances". Summary article here, original paywalled WSJ article here, alternative link may avoid paywall.

Facebook says that "it wouldn't use bank data for ad-targeting purposes", and that they "don't have special relationships, partnerships, or contract with banks or credit-card companies to use their customers, purchase data for ads." You can just hear the missing word yet. In fact, later on the article specifically says "As part of the proposed deals, Facebook asked banks for information about where its users are shopping with their debit and credit cards".

Of course, the great mass of people will have no problem allowing Facebook into their financial lives...

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  • (Score: 5, Insightful) by Anonymous Coward on Wednesday August 08 2018, @01:34AM (13 children)

    by Anonymous Coward on Wednesday August 08 2018, @01:34AM (#718563)
    Most of the humanity is not mentally capable of caring for themselves. Facebook is just an obvious example. Chickens are gladly voting for colonel Sanders. In a sane world Facebook would never exist, as there would be no fools willing to become a property.
    Starting Score:    0  points
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  • (Score: 2) by takyon on Wednesday August 08 2018, @01:42AM (4 children)

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Wednesday August 08 2018, @01:42AM (#718572) Journal

    Chickens are gladly voting for colonel Sanders.

    Yeah, but have you tried Facebook's chicken [youtube.com]?

    --
    [SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]

  • (Score: 0, Disagree) by Anonymous Coward on Wednesday August 08 2018, @02:45AM (2 children)

    by Anonymous Coward on Wednesday August 08 2018, @02:45AM (#718612)

    Tone down the cynicism Gilroy.

    • (Score: 3, Insightful) by Anonymous Coward on Wednesday August 08 2018, @03:27AM (1 child)

      by Anonymous Coward on Wednesday August 08 2018, @03:27AM (#718627)

      How is it cynicism when it's happening right in front of our eyes?

      • (Score: 3, Funny) by cmdrklarg on Wednesday August 08 2018, @04:41PM

        by cmdrklarg (5048) Subscriber Badge on Wednesday August 08 2018, @04:41PM (#718845)

        Who are you going to believe? Some random AC, or your lying eyes?

        --
        The world is full of kings and queens who blind your eyes and steal your dreams.

  • (Score: 3, Interesting) by stretch611 on Wednesday August 08 2018, @07:36AM (3 children)

    by stretch611 (6199) on Wednesday August 08 2018, @07:36AM (#718693)

    Just remember, when you think of how stupid the average person is... think a second more and realize that half the people are even worse.

    --
    Now with 5 covid vaccine shots/boosters altering my DNA :P

    • (Score: 0, Insightful) by Anonymous Coward on Wednesday August 08 2018, @09:06AM (1 child)

      by Anonymous Coward on Wednesday August 08 2018, @09:06AM (#718710)

      Just remember, when you think of how stupid the average person is... think a second more and realize that half the people are even worse.

      That being the case, you should also consider that you don't understand what a median average is or that 95% of scores on IQ tests are within two standard deviations.

      • (Score: 2, Insightful) by Anonymous Coward on Wednesday August 08 2018, @07:48PM

        by Anonymous Coward on Wednesday August 08 2018, @07:48PM (#718956)

        that 95% of scores on IQ tests are within two standard deviations.

        I want to know just how wide that standard deviation is. From what I've seen, I'd guess 20 points.

    • (Score: 2) by Pslytely Psycho on Friday August 10 2018, @08:58AM

      by Pslytely Psycho (1218) on Friday August 10 2018, @08:58AM (#719843)

      Damn but I miss Carlin's cutting wit.
      Nothing of that caliber left today unfortunately.

      --
      Alex Jones lawyer inspires new TV series: CSI Moron Division.

  • (Score: 1, Interesting) by Anonymous Coward on Wednesday August 08 2018, @08:30PM

    by Anonymous Coward on Wednesday August 08 2018, @08:30PM (#718972)

    I hate Facebook as much as the next person, but really? You can't see how somebody would prioritize a free, easy, and cheap way to stay in touch with others over something as abstract as privacy? ("Oh no! *THEY* might find out I need to buy a new oven, and then offer me discounts on an oven purchase.") I personally view privacy as more important than that, but I can see why people would choose otherwise.

    More to the point, justifications that "they are not mentally capable of caring for themselves" is the exact same excuse which has been used to kidnap Native American children from their tribes, disallow women from owning property, keep black people enslaved, and numerous other reprehensible things.

    Yes, some people are not capable of caring for themselves. We should be extremely careful in judging somebody to be mentally incompetent, though. I could imagine somebody else making the exact same argument that "nerds are too emotionally fragile and can't be allowed to see inflammatory content online" to censor the entire internet. Just because you don't agree with them is no reason to curtail their freedom to make mistakes.