BlackTortoise + 103 CM August 7, 2018 Facebook is asking major U.S. banks for financial data in order to provide more online shopping services and to track consumer spending habits. But financial institutions are reluctant to partner with the social media network over privacy concerns. Facebook told the paper that any financial information it obtains would not be shared with third parties or used to target advertisements. The news comes as Facebook struggles to fend off concerns that arose from a privacy scandal in which a political consulting firm obtained data on 87 million users without their knowledge. Quote Share this post Link to post Share on other sites
Adam Varga + 123 AV August 7, 2018 I really don't care what statements Facebook releases about how they intend to use the data. After the Cambridge Analytica scandal I don't trust any of their claims. Quote Share this post Link to post Share on other sites
Sofia + 35 SP August 7, 2018 Same here. If my bank chooses to join with Facebook I will get another bank. Quote Share this post Link to post Share on other sites
Stormysaga + 62 AB August 7, 2018 FB needs to rethink their game plan. Many users are not going to like this. What a way to earn back users' trust. Quote Share this post Link to post Share on other sites
Vlad Kovalenko + 115 VK August 7, 2018 They probably already have it but need a legal way to acquire it before they can openly use it. Quote Share this post Link to post Share on other sites
Adam Varga + 123 AV August 7, 2018 Sorry for Wells Fargo customers, they'll give in first. Quote Share this post Link to post Share on other sites
Meanwhile + 49 PT August 7, 2018 1 hour ago, BlackTortoise said: Facebook is asking major U.S. banks for financial data in order to provide more online shopping services and to track consumer spending habits. But financial institutions are reluctant to partner with the social media network over privacy concerns. Facebook told the paper that any financial information it obtains would not be shared with third parties or used to target advertisements. The news comes as Facebook struggles to fend off concerns that arose from a privacy scandal in which a political consulting firm obtained data on 87 million users without their knowledge. Man, it’s just one hit after another for Facebook lately, and mostly well deserved. Quote Share this post Link to post Share on other sites
Joanna + 68 JT August 7, 2018 1 hour ago, Adam Varga said: Sorry for Wells Fargo customers, they'll give in first. No, they mutually "shared" it, and then Wells Fargo and the rest of them bought a bunch of ads on Facebook by coincidence. Quote Share this post Link to post Share on other sites
Sefko Trafikant + 35 ST August 7, 2018 1 hour ago, Stormysaga said: FB needs to rethink their game plan. Many users are not going to like this. What a way to earn back users' trust. I think we need something like HIPAA for financial data. Quote Share this post Link to post Share on other sites
Sefko Trafikant + 35 ST August 7, 2018 1 hour ago, Adam Varga said: I really don't care what statements Facebook releases about how they intend to use the data. After the Cambridge Analytica scandal I don't trust any of their claims. 1). We are not actively seeking your financial data. 2). We are not seeking your financial data. Two very different sentences that sound the same. 1 Quote Share this post Link to post Share on other sites