Gee, what could go wrong?

“Facebook Asks Banks for Customer Data,” The Wall Street Journal, August 7, 2018 A1. “[T]o offer new services to users,” Facebook asks banks for “detailed financial information about their customers.”

I can see what’s in it for Facebook, and maybe for the banks.  But isn’t this your information?  Shouldn’t you have some control what the banks do with it?  Are you comfortable with the controls the banks and Facebook will place on this information?  It might be convenient for you, but at what risk?

Do we remember Cambridge Analytica?  Will Facebook try to do this in Europe?

To whom do you complain?  Your elected representative?  Your bank?  The state or federal regulators?

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Filed under Access, Controls, Corporation, Duty, Duty of Care, Governance, Information, Internal controls, Investor relations, IT, Oversight, Ownership, Privacy, Protect assets, Security, Third parties, Uncategorized, Who is in charge?

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