Facebook has asked big U.S. banks to share customer data so it can offer services

[FlyingPenguin]

What could possibly go wrong?

Facebook Inc. FB, +4.45% has asked big U.S. banks to share financial information on their customers that includes checking account balances and card transactions, as it seeks to expand its own service offer and stem slowing growth, The Wall Street Journal reported on Monday. Citing people familiar with the matter, the paper said Facebook is aiming to become a platform where people buy and sell goods and services, and has asked JPMorgan Chase & Co. JPM, +0.03% Wells Fargo & Co. WFC, +0.10% Citigroup Inc. C, +0.01% and U.S. Bancorp USB, +0.04% to discuss ways it could serve bank customers on Facebook Messenger. The social-media giant has pitched a feature that would display current account balances, as well as fraud alerts. The sticking point is data privacy and one bank has already pulled back, said the paper....

https://www.marketwatch.com/story/faceb ... 2018-08-06

[reno]

its total crazy IM one who sure don't want or trust facebook or any other social media group. having my personal financial information.

[wvjohn]

They've probably run simulations using data from "other sources" which shows they could skim 0.02 % from transactions.

Solution find plug for server farm, remove, place on floor.

The whole thing is already so far out of control.

[Losbot]

In today's age of constant hacks and data breaches, WTF are these people thinking?!?!? It's like they WANT to make it easier for hackers to get our info.
SMH