Chris Walters writes:
Financial blogger Felix Salmon wants to know why there isn’t regulatory oversight of Mint and other financial management websites, especially if they’re going to sell data created from their users’ transaction histories.
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.
Mint’s Terms of Service point out that in order to provide a service to you, it must access your accounts, but that it does so as your agent and not as an agent of any financial institutions. I couldn’t find any mention of aggregate data or of how Mint would use such data with outside partners or customers, though.
Read more on The Consumerist.