Yesterday, we asked how you felt about ancestry sites selling your DNA data to drug companies.
See How do you feel about 23&Me selling your DNA to drug companies?
Today, let’s go a step further.
The WSJ was the first to report that Facebook has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances
Think about that for a minute…
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Among the banks solicited were JPMorgan Chase , Wells Fargo, Citigroup and U.S. Bancorp.
Reportedly, “one of the banks pulled away from talks due to privacy concerns”.
Does that mean that the others think it’s a good idea?
I was relatively relaxed when Facebook was outted for peddling users’ “private” information.
Since I’m not a Facebook user, the breach didn’t impact me … and, the users apparently don’t give a hoot about privacy.
But, hijacking my bank and credit card info is going way, way to far.
Of course, Facebook positions the data grab as a innocent way to “deepen user engagement”.
Yeah, right.
Even if the intention is virtuous, remember Equifax?
In 2017, Equifax – one of the 3 big credit reporting agencies was hacked – and 143 million folks had their financial information compromised.
Given the Facebook’s history, it’s hard to believe that they won’t sell the data or leave the barndoor open.
Here’s what I know: if my bank starts feeding my financial data to FB, then I’ll be changing banks before you can bat an eye.
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Grand irony: Facebook stock moved UP a bit when the WSJ story hit.
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