TriggerFinger


Now Facebook wants financial data? Oh hell no


Washington TimesFacebook has reportedly approached several of the biggest U.S. banks, asking them to share their customers’ financial data with the social-media giant.

According to a report Monday in the Wall Street Journal, the data included such detailed matters as card transactions besides Facebook-related purchases and checking-account balances.

Citing “people familiar with the matter,” the Journal reported that over the past year Facebook has sought out JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp “to discuss potential offerings it could host for bank customers on Facebook Messenger.”

The talks, reflecting Facebook’s desire to be a site where people buy and sell goods in addition to chat with their friends and share cat videos, are being held up by the banks’ concerns about data privacy, partially a reflection of the selling of user data to Cambridge Analytica, the Journal reported.

This is entirely unacceptable. The only person who should have access to this information is the account holder, with a narrow exception for bank employees working with the account holder.

This entry was published Wed Aug 08 09:48:24 CDT 2018 by TriggerFinger and last updated 2018-08-08 09:48:24.0. [Tweet]

comments powered by Disqus

Subscribe to Atom Feed

I am not a lawyer, and nothing on this site should be taken as legal advice.

This site is run on custom blog software and is being actively developed. Please be forgiving of errors.


This website is an Amazon affiliate and will receive financial compensation for products purchased from Amazon through links on this site.