Payday Loans = Privacy; Facebook = Snake Oil

Payday loans are private, unlike Facebook

Payday loans are a private transaction for consumers who desire discretion during their emergency cash situations. Lots of people use them and appreciate the respect paid to their privacy, as credit checks are not typically required. But what happens when consumers who use an even more popular service like the online social marketing phenomenon Facebook? Is their privacy being respected?

Clearly, this is not the case. Adam Ostrow of Mashable reports that CNET user opinion polls on Facebook’s recent changes to their Terms of Service (ToS) show that users are not satisfied with their privacy being invaded (56 percent). Only six percent are OK with the invasion, while a whopping 38 percent “don’t know.”

How can you not know? Form an opinion! Do some research! Don’t bow down to the trendy-friendy machine.

How would the ToS change?

Among other changes, the main problem is Facebook’s defense of holding on to a user’s data indefinitely. Facebook wants "irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license to use, copy, publish, stream, store, retain, publicly perform or display, transmit, scan, reformat, modify, edit, frame, translate, excerpt, adapt, create derivative works and distribute [your content]."

The group "People Against the new terms of service," which is currently more than 60,000 Facebook users strong, has rallied against this abuse of information. The Electronic Privacy Information Center is prepared to file a complaint with the Federal Trade Commission. ... click here to read the rest of the article titled "Payday Loans = Privacy; Facebook = Snake Oil"