Chase Bank: Difference between revisions

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*Raises questions about the proper use of financial transaction data.

*Demonstrates how "legal" practices can still violate consumer privacy expectations.

Critics argued that expanding data usage for advertising increased risks of future breaches or misuse.<ref name=":2">{{Cite web |last=Shershan |first=Mikalai |date=May 9, 2025 |title=Understanding Chase data breach 2024: what happened and how to protect yourself after the incident |url=https://onerep.com/blog/chase-data-breach-2024-how-to-protect-yourself |website=onerep.com }}</ref><ref name=":6">{{Cite web |last=R. |first=Ramona |date=April 20, 2024|title=BREAKING NEWS !!! JPMORGAN CHASE are Selling Your Secrets for Profit !!! |url=https://worldreportstoday.com/breaking-news-jpmorgan-chase-are-selling-your-secrets-for-profit/ |website=worldreportstoday.com }}</ref>

The launch coincided with pending U.S. privacy laws (e.g., state-level "Do Not Sell" laws) and the CFPB’s Open Banking Rule (1033), which could impose stricter consent requirements for financial data sharing. Some analysts predicted legal challenges over whether Chase adequately informed customers about data usage. Chase had previously opposed third-party data sharing under Rule 1033, making its ad platform hypocritical.<ref name=":3"></ref><ref name=":4"></ref><ref name=":5"></ref><ref name=":6"></ref>

===Responses===

Media coverage and social media reactions highlighted consumer distrust and outrage over selling out customers for profits. Some users urged switching to credit unions or smaller banks over privacy concerns.<ref name=":5"></ref><ref name=":6"></ref> Chase defended the program by emphasizing its claims that the data remains within its "secure environment", its not shared with third parties, and customers benefit from personalized cash-back offers.<ref name=":1"></ref><ref name=":0"></ref> However, the lack of transparency around opt-outs left lingering skepticism.<ref name=":3"></ref><ref name=":4"></ref>

==References==

@@ Line 112: / Line 112: @@
 *Raises questions about the proper use of financial transaction data.
 *Demonstrates how "legal" practices can still violate consumer privacy expectations.
+Critics argued that expanding data usage for advertising increased risks of future breaches or misuse.<ref name=":2">{{Cite web |last=Shershan |first=Mikalai |date=May 9, 2025 |title=Understanding Chase data breach 2024: what happened and how to protect yourself after the incident |url=https://onerep.com/blog/chase-data-breach-2024-how-to-protect-yourself |website=onerep.com }}</ref><ref name=":6">{{Cite web |last=R. |first=Ramona |date=April 20, 2024|title=BREAKING NEWS !!! JPMORGAN CHASE are Selling Your Secrets for Profit !!! |url=https://worldreportstoday.com/breaking-news-jpmorgan-chase-are-selling-your-secrets-for-profit/ |website=worldreportstoday.com }}</ref>
+The launch coincided with pending U.S. privacy laws (e.g., state-level "Do Not Sell" laws) and the CFPB’s Open Banking Rule (1033), which could impose stricter consent requirements for financial data sharing. Some analysts predicted legal challenges over whether Chase adequately informed customers about data usage. Chase had previously opposed third-party data sharing under Rule 1033, making its ad platform hypocritical.<ref name=":3"></ref><ref name=":4"></ref><ref name=":5"></ref><ref name=":6"></ref>
+===Responses===
+Media coverage and social media reactions highlighted consumer distrust and outrage over selling out customers for profits. Some users urged switching to credit unions or smaller banks over privacy concerns.<ref name=":5"></ref><ref name=":6"></ref> Chase defended the program by emphasizing its claims that the data remains within its "secure environment", its not shared with third parties, and customers benefit from personalized cash-back offers.<ref name=":1"></ref><ref name=":0"></ref> However, the lack of transparency around opt-outs left lingering skepticism.<ref name=":3"></ref><ref name=":4"></ref>
 ==References==