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Do You Mind If Mint Sells Data Based On Your Transactions?
Mint's CEO Aaron Patzer spoke at SXSW on Saturday and said that the company is sitting on a gold mine of customer data that it may or may not sell. Here's how Salmon paraphrases it in his blog post:
[Patzer] started talking about the rich value of all the store-level data he was sitting on. For instance, he said, he can see pretty much in real time how much money his huge database of customers is, in aggregate, spending at Blockbuster vs Netflix vs Redbox, or any other set of retailers — and that kind of information would surely be extremely valuable to hedge funds. It was clearly something he’s talked a lot about, and he never said that he wasn’t already selling that data to the highest bidder. If that kind of activity is going on, especially if Mint is using data retrieved using the username and password to my own personal bank accounts, then I would certainly want some kind of regulatory oversight.”
I just finished deleting my account before making this post.
Truth be told however I never really "used" the site but I did have it all set up.