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Honored Contributor
Posts: 10,425
Registered: ‎01-19-2015

Facebook Asks Banks For Customer Data

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

 

Here's the link to this eye-opening article from today's Wall Street Journal. If l were on Facebook (which l'm glad I'm not), this would be enough to get me to close my FB account immediately.

 

https://www.wsj.com/articles/facebook-to-banks-give-us-your-data-well-give-you-our-users-1533564049?...

 

~~Be careful when you follow the masses. Sometimes the 'm' is silent.~~
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Respected Contributor
Posts: 4,093
Registered: ‎09-18-2010

Re: Facebook Asks Banks For Customer Data

I'm not a member of Wall Street Journal, and I can't look at the link.

Would this be legal, for our banks to share our information on facebook?

I know when I worked for a local company, if we had a client whose check had bounced, I would call their bank and ask if said client had enough money to cover the check before we tried to run it through again, and the bank people would tell us yes or no.

But this is a lot different. I don't like it. Lord, between the mistakes that have been made at banks and the fraud that seems to run amock, in the banking industry, this just isn't a good idea at all. I will get a fake name and fake account, as I do like to look at my local news feed on there.

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Trusted Contributor
Posts: 1,111
Registered: ‎03-10-2010

Re: Facebook Asks Banks For Customer Data

You can view the information:  https://www.google.com/search?source=hp&ei=eq1pW8jpLoS0ggfO1J2gAg&q=facebook+banks&oq=%22facebook+to...

 

 

ETERNITY: your choice... smoking or non smoking!
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Honored Contributor
Posts: 22,219
Registered: ‎05-10-2010

Re: Facebook Asks Banks For Customer Data

I don't click on links like that and I am 100% certain that there's some confusion here.  FB isn't making such a request and no bank would ever respond to such a cokamamie request.  It's ridiculous.    

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Respected Contributor
Posts: 2,916
Registered: ‎03-14-2010

Re: Facebook Asks Banks For Customer Data

Banks have to disclose with whom they will share your info. They are mandated to give each customer a privacy notice. Read it- some banks share your info with marketing firms, affiliated businesses (like a mortgage or brokerage firm owned by the bank). You have to tell the bank you "opt out" of any potential info sharing.

Important to read and understand your disclosures. 

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Honored Contributor
Posts: 10,425
Registered: ‎01-19-2015

Re: Facebook Asks Banks For Customer Data


@spent2much wrote:

You can view the information:  https://www.google.com/search?source=hp&ei=eq1pW8jpLoS0ggfO1J2gAg&q=facebook+banks&oq=%22facebook+to...

 

 


@spent2much: Thanks. 

~~Be careful when you follow the masses. Sometimes the 'm' is silent.~~
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Honored Contributor
Posts: 10,425
Registered: ‎01-19-2015

Re: Facebook Asks Banks For Customer Data

Facebook is negotiating with banks, and none of this is a done deal yet. But just the idea of FB attempting to go in this direction makes me uneasy.

~~Be careful when you follow the masses. Sometimes the 'm' is silent.~~
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Honored Contributor
Posts: 11,469
Registered: ‎03-09-2010

Re: Facebook Asks Banks For Customer Data

@bathinaWise advice re those disclosures.

 

I opt out of pretty much everything companies say I can opt out of.  So far, I've not found anything I wanted to opt back into and could not.  They're happy to get us on our own timetables even though they'd rather bombard us all the time!

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Regular Contributor
Posts: 185
Registered: ‎10-16-2011

Re: Facebook Asks Banks For Customer Data

I would drop facebook and any bank of mine that agrees to this union of information. We are tracked and threatened enough on every level by the lack of privacy. 

 

I personally already resent that by looking at an item on the internet , it starts popping up on every page you look at.

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Esteemed Contributor
Posts: 7,852
Registered: ‎03-09-2010

Re: Facebook Asks Banks For Customer Data

I read the article, I don't think any bank has agreed.  One large US-based bank dropped out of the talks right away due to privacy concerns.