Posted on 08/07/2018 8:08:20 AM PDT by Enlightened1
Facebook has been asking banks in the United States for their customers’ financial data, including account balances and transactions, according to a report.
The Wall Street Journal revealed that the social network has been asking major banks to “share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users.”
The banks asked by Facebook included JPMorgan Chase, Wells Fargo, Citigroup, and U.S. Bancorp, while one “large U.S. bank pulled away from talks due to privacy concerns.”
“Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts,” reported the Wall Street Journal, which claimed, “Facebook has told banks that the additional customer information could be used to offer services that might entice users to spend more time on Messenger.”
Despite this, Facebook claimed in a statement that the data would not be used for advertisement targeting.
“We don’t use purchase data from banks or credit card companies for ads,” claimed Facebook spokesman Elisabeth Diana. “We also don’t have special relationships, partnerships, or contracts with banks or credit card companies to use their customers’ purchase data for ads.”
(Excerpt) Read more at breitbart.com ...
Wells Fargo will do it right away, for the right price. :)
Facebook wants in on the Blackmail Business ?
Make sure you let your bank know you’ll be done with them the instant they comply with farcebook.
Well why in the hell not, the Obama Administration handed over to the Chinese 20 million federal employee security clearances and SSNs...They might as well have our financial information too...I mean WTF!!!
The company that can’t consistently keep personal information private wants access to bank data.
Yeah, that’ll end well. !@#$
Maybe they have it already. Maybe this is just cover.
If I signed up on Facebook years ago under a fake name Bill Bailey will they want Bill Bailey’s Banking info ? LOL
LOL! Anyone who gives their info to Fakebook is a moron!
I bank with a smaller bank. IF they comply with this crap-—I will take out all my Soc Sec money each month & purchase money orders.
Let Facebook track that !!!!
EVERY ONE of us has a right to privacy about our financial status.
It is NONE of Zuckerberg’s business what I spend my $$$ on or how much $$$ I have in my checking account.
I see massive lawsuits against Zuckerberg for this. It could bankrupt him.
This is still INVASION of Privacy.
Did they also ask for your passwords so they can empty your accounts as well?
No point to buying data from Chase, it got hacked three years ago and is free.
Try this folks, type in your SSN to google or any browser and see how many people are using your SSN. You might be shocked to see how hacked we all are.
Here’s the problem with Facebook. They have your name and address if you signed up without using a VPN to disguise your location. All they have to do is get a last name and zip code from the bank and you are bracketed, zeroed in, forever.
Most banks going to look at this and just start laughing. Why not allow Wal-Mart or Amazon the same gimmick? Banks are out to do business...make a profit...and not upset customers. There might be a handful of pro-internet type banks (the smaller ones) who see this as a plus-up. The bulk of them (probably 90-percent) will just say no thanks.
Facebook , China’s direct line to everyone
The many thousands of Facebook employees will guard our most sensitive bank and financial recordsl they promises, and so does SuckerBerg.
Facebook won’t empty your account, they’ll just sell the info.
The original article is from the WSJ. It’s behind a paywall, but I have a subscription, and can report that there were 882 comments on this about an hour ago. Every one of the first hundred or so was universally negative. “They do this, I’m finding another bank”, etc.
If all banks and brokerages did this, it would suck royally for all of us. But, if only some did, not joining would become a huge selling point.
I don’t think it will happen, at least not in the direct fashion envisioned by FB. The article did point out, however, that banks have trying to build their own platforms to push product, but that these have largely been ineffective.
Anyone who is conservative and still not kicked Fakebook to the curb is complicit.
Come and get me big government. I can’t wait to become your slave. Geeeez!
Notice how carefully worded Facebook’s response is.
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