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Honored Contributor
Posts: 10,495
Registered: ‎01-19-2015

Re: Facebook Asks Banks For Customer Data

[ Edited ]

@bathina wrote:

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. 


@bathina: I would hope that those bank privacy notices re: information sharing-- which they're required to give to new customers, and then mail annually thereafter-- would also apply to FB. But it's too soon to know for sure.

 

If this ever does happen, it should be an OPT-IN service at FB.

~~Be careful when you follow the masses. Sometimes the 'm' is silent.~~
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Posts: 2,916
Registered: ‎03-14-2010

Re: Facebook Asks Banks For Customer Data


@handygal wrote:

@bathina wrote:

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. 


@bathina: I would hope that those bank privacy notices re: information sharing-- which they're required to give to new customers, and then mail annually thereafter-- would also apply to FB. But it's too soon to know for sure...


If banks agree to share info to FB, I'm thinking you would have to ask the bank specifically. Those privacy notices tell you if the bank shares your info, but not who they share with. And there's no chance of any legislation passing to force banks to disclose particulars. Yuck.

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Re: Facebook Asks Banks For Customer Data

I deactivated my Facebook years ago.
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Registered: ‎03-09-2010

Re: Facebook Asks Banks For Customer Data

@handygalThere's conflicting info available -  the devil may be in the details.

I just read the BBC from 10 hours after the WSJ article.  That one says the shared info has to come from Facebook members opting IN on a messenger app.  If that's true, that makes sense. but if members have to opt OUT, I hate that choice.

 

Once again, as @Bathina says, we absolutely have to know what our choices are.

 

I choose not to belong to FB, but if I did I definitely would not share my buying habits.  BTW, I'm not even sure what they mean when they talk about buying habits, but I do think they are not asking for account numbers and/or amounts.  That, at least, makes it less scary. 

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Re: Facebook Asks Banks For Customer Data


@yellow919 wrote:
I deactivated my Facebook years ago.

Many are following your lead. 

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Posts: 2,725
Registered: ‎09-12-2013

Re: Facebook Asks Banks For Customer Data

I have never had a FB account and have never even been on FB. This just adds to the reasons why. 🤨😬

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Posts: 5,889
Registered: ‎08-19-2014

Re: Facebook Asks Banks For Customer Data

   It’s scary how nothing is private anymore. I’m very careful with what I put out there.The problem is that doesn’t matter.With all the computer hacks etc. all our private information has become public.Regardless of how hard we try we can no longer protect our privacy!! Facebook doesn’t even scratch the surface of how compromised we have all become.

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Re: Facebook Asks Banks For Customer Data

[ Edited ]

@Chrystaltree wrote:

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.    


You're right. Facebook didn't ask for that kind of info. (That's been reported since the WSJ article came out.) Facebook and banks are working together to provide additional customer service platforms, like Facebook Messenger.

 

QVC also works with Facebook and Messenger. When I place an order on QVC, I get a message on Messenger that tells me my order has been received. I also get shipping notifications and notices about sales and TSVs. I can block them at any time, but I find them useful and I don't.

 

Facebook also works with PayPal in the same way. If I make a charge on PayPal, I get a notice on Messenger. If I have a subscription plan through PayPal (I subscribe to several newspapers, boxes, and Hulu via PayPal), I get a monthly notice when my payment has been withdrawn. It's a good way for me to keep track of them and means that if someone makes a charge I did NOT approve on my PayPal account, I'm going to get a notification and can immediately contact PayPal about fraud.

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Registered: ‎03-14-2010

Re: Facebook Asks Banks For Customer Data

 Thanks for the clarification @Alison Wonderland and @Chrystaltree.

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Registered: ‎03-10-2010

Re: Facebook Asks Banks For Customer Data


@millieshops wrote:

@handygalThere's conflicting info available -  the devil may be in the details.

I just read the BBC from 10 hours after the WSJ article.  That one says the shared info has to come from Facebook members opting IN on a messenger app.  If that's true, that makes sense. but if members have to opt OUT, I hate that choice.

 

@Once again, as @bathina says, we absolutely have to know what our choices are.

 

I choose not to belong to FB, but if I did I definitely would not share my buying habits.  BTW, I'm not even sure what they mean when they talk about buying habits, but I do think they are not asking for account numbers and/or amounts.  That, at least, makes it less scary. 


 

I assume this is similar to when you "Opt In" to receive Messenger notifications of your retail purchases and shipping updates.  I opt out of all of those.

===================================
QVC Shopper - 1993

# IAMTEAMWEN