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Facebook seeks banking data

Publish date: 08 August 2018
Issue Number: 1744
Diary: Legalbrief eLaw
Category: general

* Facebook has asked major US banks to share customer data to allow it to develop new services on the social network's Messenger texting platform, a banking source has reportedly told AFP. Facebook had discussions with Chase, JPMorgan, Citibank and Wells Fargo several months ago, said the source, who asked to remain anonymous. Facebook, which has faced intense criticism for sharing user data with many app developers, was interested in information including bank card transactions, checking account balances, and where purchases were made, according to the source.

– Fin24