|
|
|
|
|
|
by sambull
2818 days ago
|
|
|
Not related to private data but I've seen a bank shadow fund a project to get the mortgage review packages of a competitor to run through their models and test them out, also giving this one bank all the data on the mortgage packages and the scores. A really big bank did this to two others BIG lenders (one lender directly related to the federal government).
We were instructed to turn a blind eye and the business model was exfiltrating info to a different lending institution while the auspice is we were only building a product as a service.
My personal opinion is ALL your data is being sold. Every single bit that can be collected will be sold with no protections, regulations. |
|
|
I don't understand -- especially in this crowd -- how this is even a question, at this point, nor why anything related to this fact even warrants discussion any more, given the knowable ubiquity of the practice. I guess the only thing left is figuring out a novel way to capitalize on it, like the Gold Rush.