Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Facebook Opens Door to More Federal Probes by Asking Banks for Data

Courtesy of Pam Martens.

Facebook CEO Mark Zuckerberg Testifies Before Congress on April 10, 2018 on His Company's Technology Failings

Facebook CEO Mark Zuckerberg Testifies Before Congress on April 10, 2018 on His Company’s Technology Failings

Facebook is beginning to resemble one of those frat boys at a boozy party who keeps asking guys to punch him in the stomach to prove his masculinity. At a time when it’s under scrutiny on multiple continents for sharing its users’ personal information without their consent, it has decided to ask big U.S. banks to share their customers’ financial transaction information with Facebook, according to a report yesterday in the Wall Street Journal.

The Journal reported that “The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.”

Three of the banks mentioned, JPMorgan Chase, Citigroup and Wells Fargo, have been serially in trouble with Federal regulators for abusing their customers. The idea that these Wall Street banking behemoths might now partner with Facebook to potentially add financial privacy violations to their roster of misdeeds, or open the door to identity theft, is sure to open fresh Federal probes.

An added commentary on the morality of our times lies in the fact that the shares of Facebook actually spiked on the news, closing the day up 4.45 percent.

According to the quarterly report (10Q) that Facebook filed with the Securities and Exchange Commission (SEC) on July 26, it is being sued in state and federal courts and is in the cross hairs of government investigators “in the United States, Europe, and other jurisdictions.” The company told the SEC this:



Continue Here


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!