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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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