Facebook to Banks: Give Us Your Data, We’ll Give You Our Users

Discussion in 'privacy general' started by ronjor, Aug 6, 2018.

  1. ronjor

    ronjor Global Moderator

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  2. mirimir

    mirimir Registered Member

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    If users were paying attention, wouldn't that just frighten more of them away?

    But I guess that they're not paying attention :(
     
  3. ronjor

    ronjor Global Moderator

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    Almost unbelievable.
     
  4. JRViejo

    JRViejo Super Moderator

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    And if you really believe that, I've got some swamp land for sale. ;)
     
  5. Infected

    Infected Registered Member

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    This is the only reason they want our detailed purchases. So they can force even more ads on us and to buy from them...
     
  6. stapp

    stapp Global Moderator

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  7. JRViejo

    JRViejo Super Moderator

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    First the finger, then the arm, then... :cautious:
     
  8. Minimalist

    Minimalist Registered Member

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    Of course their stock was up right after announcement :rolleyes:
     
  9. oliverjia

    oliverjia Registered Member

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    Microsoft has been collecting sensitive passwords in Windows 10. Now FB is eyeing people's transaction data.

    In fact, any sane person can deduce from the word "free platform" that any free social network platform will get "something" from its users to support itself. So no surprise here.
     
  10. mirimir

    mirimir Registered Member

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    Ah, so they're quibbling over the definition of "we". And so what, if it's just part of "we", it's "they"? Seems iffy.
     
  11. emmjay

    emmjay Registered Member

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    Totally opt-in, by whom? :cautious::cautious::cautious:

    FB has proven itself to be totally incompetent when it comes to handling user data. The banks who participate in this crackpot scheme should have their accreditation as a bank brought into question. Alternatively, FB should have to prove that they are not unlawfully providing banking services.

    The Banking Act (USA): An Act to provide for the safer and more effective use of the assets of banks, to regulate interbank control, to prevent the undue diversion of funds into speculative operations, and for other purposes.
    • it has not been updated since 1933. Hopefully this FB indulgence will make it clear that this Act requires a major overhaul.
     
  12. mirimir

    mirimir Registered Member

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    Well, US banks already sell data about their customers :(
     
  13. Stefan Froberg

    Stefan Froberg Registered Member

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    Really?! :eek:

    So thing like "bank–client confidentiality" does not exists in the "land of the free" ?
    Good to know...
     
  14. zapjb

    zapjb Registered Member

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    USA still the best. But getting worse!
    Anybody who thinks this is a dying breed which includes me.

    Within 20-30 years NO ONE will make a peep about any privacy concerns.
     
  15. mirimir

    mirimir Registered Member

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    Well, banks are free to sell your data :)
     
  16. EASTER

    EASTER Registered Member

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    100% to this reply.
     
  17. reasonablePrivacy

    reasonablePrivacy Registered Member

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    About all clients or only those that taken credit?
    I have bank account, some money on it, but I don't have credit card and I have never taken any credit.
     
  18. mirimir

    mirimir Registered Member

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    I'm not sure. Maybe just credit card data.
     
  19. TheWindBringeth

    TheWindBringeth Registered Member

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    I expect the answer would be location specific. Here in the United States, we don't have an adequate regulatory environment for protecting the privacy of financial data. Even what we do have is Swiss cheese like. Some important specifics aren't targeted by regulation. There are multiple, risky/abusable, exceptions that allow for data sharing that cannot be opted-out of (with "affiliates", with "service providers", with "companies engaged in joint marketing"). Other data sharing which should be opt-in is only required to be opt-out. There are inadequate disclosure requirements, inadequate review and correction requirements, and other issues. Which basically leaves everyone at risk of having some financial [meta]data inappropriately shared/used. It isn't just those who apply for and/or use credit (although they may very well experience worse exposures).
     
  20. ronjor

    ronjor Global Moderator

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    UniCredit has stopped using Facebook for advertising: CEO

     
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