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This Week in Credit News: Privacy Updates

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The biggest credit news this week is all about privacy and security, as the new iPhone 5S launches with a fingerprint technology intended to make your smartphone safer.

Does the iPhone 5S Fingerprint Tech Make You Safer?

The announcement this week of Apple’s latest high-tech smartphone touted a major advance in iPhone security — a fingerprint sensor. The sensor, which can be used by iPhone 5S owners when the phone is released Sept. 20, replaces the previous security feature many iPhone owners utilized, the four-digit PIN.

As Bob Sullivan points out, the fingerprint technology may be a large step forward in convenience, but as far as phone security is concerned, the step is a small one. He writes: “In the real world, making security more convenient also makes it more secure, because behavior is more important that technology. A strong password is no good when it ends up on a post-it note tacked to the monitor.”

Sullivan does advocate for a two-factor authentication instead of just a fingerprint to unlock the phone.

@RedTapeChron @CreditExperts

AboutTheData.com Lets You See Your ‘Secret’ Marketing Data

Last year, many marketers were skewered by the media for their practice of “microtargeting” — an attempt to gather more data about consumers to make their marketing more precise. However, online marketers don’t necessarily know everything about you, and one firm is making a move to let consumers control and adjust their own data.

Acxiom announced this week that it had launched a site — AboutTheData.com — that allows you to log in and change the data marketers think they know about you, including your age, gender and how much shopping you do online and off.

@RedTapeChron @CreditExperts

Facebook Privacy Change Is Subject to FTC Inquiry

The New York Times reports that a recent announcement by Facebook that it was changing its privacy policy may be in violation of a 2011 agreement between the social media company and the Federal Trade Commission.

The root of the issue is that the agreement stated that the social network must obtain explicit consent from its users before giving their information to other audiences. The FTC told the Times that the social network gave the agency the proposed changes before posting them to its site, but the FTC did not think the network sought out a discussion of the changes to make sure they were in line with the 2011 agreement.


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