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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: 1, Troll) by MichaelDavidCrawford on Wednesday August 08 2018, @06:01AM (5 children)

    by MichaelDavidCrawford (2339) Subscriber Badge <mdcrawford@gmail.com> on Wednesday August 08 2018, @06:01AM (#718675) Homepage Journal

    And I use Facebook

    --
    Yes I Have No Bananas. [gofundme.com]
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  • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @07:00AM (2 children)

    by Anonymous Coward on Wednesday August 08 2018, @07:00AM (#718688)
    It only illustrates the need for a "common sense" IQ meter that would measure ability to live well in the society.

    • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @07:57AM (1 child)

      by Anonymous Coward on Wednesday August 08 2018, @07:57AM (#718697)

      What it illustrates is that IQ has little to do with actual intelligence.

      • (Score: 2) by MichaelDavidCrawford on Wednesday August 08 2018, @09:09AM

        by MichaelDavidCrawford (2339) Subscriber Badge <mdcrawford@gmail.com> on Wednesday August 08 2018, @09:09AM (#718711) Homepage Journal

        My original reason was that my friends from high school, and even elementary school did not know how to use email. Cousin Chuck can code in FORTRAN, he has a Master's in Architecture from Harvard, was his high school class' Valedictorian but even so: he doesn't know how to use email.

        More recently I've been using Facebook to flog my writing. I made the decision to do so when I found myself swamped with Friend Requests. Now I have 5,000 friends.

        --
        Yes I Have No Bananas. [gofundme.com]

  • (Score: 2) by rigrig on Wednesday August 08 2018, @12:30PM

    by rigrig (5129) <soylentnews@tubul.net> on Wednesday August 08 2018, @12:30PM (#718748) Homepage

    Don't be offended, as AC said: it's just a technical term, even Mark uses it [businessinsider.com]

    --
    No one remembers the singer.

  • (Score: 0) by Anonymous Coward on Friday August 10 2018, @03:06AM

    by Anonymous Coward on Friday August 10 2018, @03:06AM (#719761)

    This from the guy who signs his posts with "My United States Social Security Number Is [redacted]."