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Facebook Wants Your Banking Data

posted by martyb on Wednesday August 08 2018, @01:12AM   
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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Original Submission

• Re:Not WSJ Re:Not WSJ (Score: 2, Touché) by Anonymous Coward on Wednesday August 08 2018, @03:53AM (1 child)

  by Anonymous Coward on Wednesday August 08 2018, @03:53AM (#718635)

  And, please, let's not forget that capitalism is an iterative process; it doesn't matter that the current distribution of resources has a sordid history.

  Seems that your iterative process got stuck into a stinky local minimum and won't budge. Wanna kick to get it out? Like a revolution or sumtin'?

  Get it yet?

  Parent

  Starting Score:	0		points
  Moderation		+2
  Touché=2, Total=2
  Extra 'Touché' Modifier		0
  Total Score:		2

• Re:Not WSJ (Score: 2) by HiThere on Wednesday August 08 2018, @05:24PM

  by HiThere (866) on Wednesday August 08 2018, @05:24PM (#718868) Journal

  Unfortunately, that process usually ends up giving you something even worse.

  --
  Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.

  Parent