Stories
Slash Boxes
Comments

SoylentNews is people

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...

Original Submission

 
This discussion has been archived. No new comments can be posted.
Facebook Wants Your Banking Data | Log In/Create an Account | Top | 54 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @05:37PM

    by Anonymous Coward on Wednesday August 08 2018, @05:37PM (#718873)

    An impossible conversation: "Glad to meet you John. So, John, where do you bank and how much money do you have saved? Only $400 in a checking account? Don't you get a $5000 paycheck every month? Oh, it's only $3000, and the evil taxman keeps $1000 of it? My, my. Well, how much credit card debt do you have?"

    Actually, in my experience it's more like having one of those pop ups come onto your screen when you go to the website for your credit card company. The pop up tells you in a rather officious manner that they are "required by law" to inquire about your income; it is strongly implied that you are required to answer. The scofflaw that I am, I always close that pop up and continue on with my business. So far, the cops haven't come to arrest me. At least not yet. And the credit card company has yet to close down my account for refusing to comply. At least not yet.