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by rndphs
1594 days ago
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Yeah but Facebook is primarily an advertising company, and one of the biggest advertising companies at that. They can much better leverage this data and milk it to a much greater extent. People aren't going to your bank or credit card company in order to buy ads targetting you. |
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But they do ?
https://www.aclu.org/blog/privacy-technology/consumer-privac...
> In 1999, Congress passed the Gramm-Leach-Bliley Act (GLB).
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> Under GLB, companies can sell their customers’ financial data to anyone they choose, including credit card information such as the date, amount, and recipient of charges, and the personal details consumers provide when they fill out applications. Consumers have no privacy under federal regulations unless they affirmatively take steps to “opt out” of this sharing, repeating the process for each and every financial service provider who may have data about them.
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> Even this opt-out option is not available for consumers to stop credit card companies and issuing banks from sharing this data with their financial affiliates and financial “joint marketers,” a vaguely defined term that provides a giant loophole in privacy protections.
PS. Just to make sure - I'm not trying to defend Facebook here, or credit card companies.