Apparently, Facebook Inc (NASDAQ:FB) is seeking to make indiscriminate use of user data for advertising purposes.
From the new policy statement:
“You give us permission to use your name, profile picture, content, and information in connection with commercial, sponsored, or related content.”
Users under 18 years of age would not be excluded from the commercial use of their information, since parents have “agreed to the terms and conditions” of signing up for the popular social media website, on their behalf.
The consumer groups that issued the complaint letter this week claim that the new policy clearly violates the court settlement from 2011.
Facebook Inc (NASDAQ:FB) might not have suffered any financial loss from the concerns raised by privacy groups, yet their reputation is bound to suffer amongst users after repeatedly failing to secure their information.
Disclosure: Pablo Erbar holds no position in any stocks mentioned