This is how it works. Companies offer you a free service like Intuit Mint or Mint bills. They hook up with all the accounts you have: checking, savings, investments, credit cards. You log into your bank once and from then on, Mint grabs your data and after analysis and comparing to their other customers the provide advice. Sounds Super. You know the way they make their money? Selling your data to everyone who needs where you spend your money, your networth….Anyway, no one has looked at this at all. The privacy, security of your most critical data is in fine print. You don’t can’t find out how Mint sends its email reports that have all this data. Are they encrypting the email text? If they don’t, The email is readable when on your email server and when it arrives at the other guy’s. Email is not secure unless you add it in on both sides. Anyway the end of this story is that by the time someone wakes up and realize what is going on, there will be too much money being made and they will have the power to stop regulation. They only chance we had of getting on top of this is if Bernie and Warren would win the election.
Is it really so smart to make your finances an open book? | Business | The Guardian: “merican billionaire oil magnate J Paul Getty once said, “If you can count your money, you don’t have a billion dollars.” “