Nov 302015
 November 30, 2015  Business, Non-U.S.

Rosa Marchitelli reports:

A B.C. man decided to Go Public after discovering Canada’s second-biggest bank can access and collect information on all of its customers’ online activities, even those that aren’t banking-related.

Colin Laughlan is one of thousands of Canadians who had his Visa cards switched from CIBC to TD in 2014 after the Aeroplan rewards program changed banks.

“When I saw this — I really had to read it two or three times to make myself believe I was reading what I was reading,” he said.

He points to two lines in the 66-page Visa cardholder agreement that allows TD to collect details about anything — and everything — customers do online.

Under the privacy section of the cardholder agreement:

“COLLECTING AND USING YOUR INFORMATION — At the time you request to begin a relationship with us and during the course of our relationship, we may collect information including:

  • Details about your browsing activity on your browser or mobile device.
  • Your preferences and activities.

Read more on to learn what happened next when the consumer brought it to the bank’s attention and they promised to delete it from their terms – but didn’t.

And this, kids, is why we need to read the fine print and privacy policies.

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