Facebook to Banks: Give Us Your Data, We’ll Give You Our Users

Facebook has asked large US 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. The company asked JPMorgan Chase, Wells Fargo & Co., Citigroup,  and US Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger. Facebook has talked about a feature that would show its users their checking-account balances. It has also pitched fraud alerts. Data privacy is a sticking point in the banks’ conversations with Facebook. (ya think?)