Chase Bank: Difference between revisions

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| Official Website = https://chase.com/

| Logo = CHASE.png

}}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>"Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone."<ref name=":0">[https://web.archive.org/web/20250129165337/https://media.chase.com/news/chase-launches-chase-media-solutions "Chase Launches Chase Media Solutions, a New Digital Media Busines"] - archive.org - archived 2025-01-29 </ref></blockquote>

}}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone.<ref name=":0">[https://web.archive.org/web/20250129165337/https://media.chase.com/news/chase-launches-chase-media-solutions "Chase Launches Chase Media Solutions, a New Digital Media Busines"] - archive.org - archived 2025-01-29 </ref></blockquote>

=Chase Media Solutions incident=

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'''Data Privacy Issues:'''

* Large corporations mask their data collection agreements in lengthy privacy policies.

*Large corporations mask their data collection agreements in lengthy privacy policies.

* Financial institutions leverage their unique access to sensitive customer data.

*Financial institutions leverage their unique access to sensitive customer data.

* Companies provide no way—or no easy way—to opt out of data collection.

*Companies provide no way—or no easy way—to opt out of data collection.

* Personal financial information is being monetized without clear consumer consent.

*Personal financial information is being monetized without clear consumer consent.

'''Consumer Rights Concerns:'''

* Customers lose control over how their transaction data is used.

*Customers lose control over how their transaction data is used.

* The program was implemented without clear opt-out mechanisms.

*The program was implemented without clear opt-out mechanisms.

* Existing customers are affected by significant changes to data usage policies without meaningful communication commensurate with the severity of the policy change and invasion of privacy.

*Existing customers are affected by significant changes to data usage policies without meaningful communication commensurate with the severity of the policy change and invasion of privacy.

* The practice represents a shift in how financial institutions monetize customer information.

*The practice represents a shift in how financial institutions monetize customer information.

'''Industry Implications:'''

* Sets a precedent for other financial institutions to monetize customer data: if one of the world's largest banks can do it, it incentivizes others.

*Sets a precedent for other financial institutions to monetize customer data: if one of the world's largest banks can do it, it incentivizes others.

* Blurs the line between banking services and advertising platforms.

*Blurs the line between banking services and advertising platforms.

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

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

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

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

==References==

@@ Line 8: / Line 8: @@
 | Official Website = https://chase.com/
 | Logo = CHASE.png
-}}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>"Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone."<ref name=":0">[https://web.archive.org/web/20250129165337/https://media.chase.com/news/chase-launches-chase-media-solutions "Chase Launches Chase Media Solutions, a New Digital Media Busines"] - archive.org - archived 2025-01-29 </ref></blockquote>
+}}'''[[wikipedia:Chase_Bank|Chase Bank]]''' is one of the leading financial services providers in the United States, as indicated by the following quote. <blockquote>Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone.<ref name=":0">[https://web.archive.org/web/20250129165337/https://media.chase.com/news/chase-launches-chase-media-solutions "Chase Launches Chase Media Solutions, a New Digital Media Busines"] - archive.org - archived 2025-01-29 </ref></blockquote>
 =Chase Media Solutions incident=
@@ Line 51: / Line 51: @@
 '''Data Privacy Issues:'''
-* Large corporations mask their data collection agreements in lengthy privacy policies.
+*Large corporations mask their data collection agreements in lengthy privacy policies.
-* Financial institutions leverage their unique access to sensitive customer data.
+*Financial institutions leverage their unique access to sensitive customer data.
-* Companies provide no way—or no easy way—to opt out of data collection.
+*Companies provide no way—or no easy way—to opt out of data collection.
-* Personal financial information is being monetized without clear consumer consent.
+*Personal financial information is being monetized without clear consumer consent.
 '''Consumer Rights Concerns:'''
-* Customers lose control over how their transaction data is used.
+*Customers lose control over how their transaction data is used.
-* The program was implemented without clear opt-out mechanisms.
+*The program was implemented without clear opt-out mechanisms.
-* Existing customers are affected by significant changes to data usage policies without meaningful communication commensurate with the severity of the policy change and invasion of privacy.
+*Existing customers are affected by significant changes to data usage policies without meaningful communication commensurate with the severity of the policy change and invasion of privacy.
-* The practice represents a shift in how financial institutions monetize customer information.
+*The practice represents a shift in how financial institutions monetize customer information.
 '''Industry Implications:'''
-* Sets a precedent for other financial institutions to monetize customer data: if one of the world's largest banks can do it, it incentivizes others.
+*Sets a precedent for other financial institutions to monetize customer data: if one of the world's largest banks can do it, it incentivizes others.
-* Blurs the line between banking services and advertising platforms.
+*Blurs the line between banking services and advertising platforms.
-* Raises questions about the proper use of financial transaction data.
+*Raises questions about the proper use of financial transaction data.
-* Demonstrates how "legal" practices can still violate consumer privacy expectations.
+*Demonstrates how "legal" practices can still violate consumer privacy expectations.
 ==References==