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back to article Firms that make 'questionable use' of your data will pay... with their reputations

There is a reputational risk to firms if they make "questionable use" of consumer data, the European Banking Authority (EBA) has warned. The regulator highlighted the risk in a new discussion paper on the innovative uses of consumer data by financial institutions (29-page/292KB PDF). "Financial institutions might use data in …

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  1. mark 120

    Isn't this already covered under the new EU General Data Privacy Regulation? That mandates a fine of up to 4% of global turnover or 20 million euros, whichever is higher, and they have specific details around only using information for the purpose for which it was collected.

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  2. Paul Woodhouse

    I think the amount of fucks given by most Financial Institutions will be a relatively small figure.....

    3 0 Reply

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