Mark Zuckerberg Co Founder and CEO of Facebook returns from a break to answer the last of the Member's questions as he testifies before a meeting of the United States House Committee on Energy and Commerce during a hearing on

However, Facebook said that users must opt in to linking the Messenger chat app to their bank accounts.

According to a new Wall Street Journal (WSJ) report, Facebook has asked us banks to share detailed information on their customers, including data on credit card transactions and checking account balances.

In effect, these deals would give Messenger the ability to alert customers to fraudulent activity on their accounts or allow them to check their balances. Unless Facebook is able to reassure the banks that it either won't have direct access to the data itself, or that the data will never be used for advertising purposes, then the company may not succeed in convincing US banks to share their customers data.

FBN's Stuart Varney, Ashley Webster and Liz MacDonald on reports Facebook is asking banks for financial information about their customers. I reached out to Facebook for comment and will update this post if I hear back.


The Wall Street Journal says that JPMorgan Chase, Wells Fargo, US Bank and Citigroup among others have been approached by Facebook to discuss potential offerings it could host on its messaging platform.

Facebook has reportedly approached several of the biggest US banks, asking them to share their customers' financial data with the social-media giant.

Facebook has been under fire for several scandals involving data privacy, starting with Cambridge Analytica.

Any data that was accessed by the company for such purposes was not used for advertising, it added. Google and Amazon have reportedly also sought similar arrangements, exchanging user data for the banks' integration with the tech companies' massive platforms.


"Facebook has talked about a feature that would show its users their checking-account balances, the people said". Wells Fargo is "not actively engaging in data-sharing conversations with Facebook", spokeswoman Hilary O'Byrne said in an emailed statement.

"We haven't shared any customer information or data to Facebook or any other technology platform", said Dana Ripley, chief communications officer at US Bancorp, in an email statement.

The dust surrounding the Cambridge Analytica data privacy incident still hasn't fully settled, but Facebook is already looking for additional ways to get its hands on user data.


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