quicken/intuit privacy policy - BIG hole...

[joke]

I just updated quicken to the 2007 version and was considering using their 'online' services to really automate my banking. Being the sceptic that I am and before I started to enter all of my personal banking and financial info I thought it would be reasonable to read their privacy policy. They are a licensee of TRUSTe and have a good set of rules that they 'promise' to follow. I did find one issue that has me concerned and I wanted to find out if anyone else has issues with this loophole or can add some insight into the backdoor they have built into the privacy statement:

Sale of a Business. Should we sell, merge, or transfer any part of our business, part of the sale may include your personal information. If so, you will have the opportunity to ask not to receive promotional information following any change of control.

Isn't this just a way to bypass all of TRUSTe's guidelines. It seems that all Intuit needs to do is have a _very_ small transaction and attach their complete user list (value-add) to the deal and no one has a right to complain. I know, I can insist that the new 'owner' of my financial data not send me more spam but come-on, this really sucks.

A good privacy policy should allow me to completely opt-out of Intuit's business transactions. I have been doing some additional research and am now trying to raise a little stink about it (and also looking for feedback about this intrinsic eula). I mean this type of clause just castrates the rest of any privacy policy, yes?

Buyer Beware!

Joe

 

[joke]

After having sent two emails to Quicken's 'privacy group' requesting information about what they stored on their systems I went to their internal support web-site and asked another question (posted below). Within 12 hours my email was sensored and within 18 hours the entire thread was deleted. Before you use share any of your personal financial data with Intuit you really do need to review their privacy policy and also consider how significant the TRUSTe seal is... - BUYER BEWARE

----- posted on the Quicken forum last night ----

Hi,

I have sent this message to the 'policy goup' twice without getting an answer. I thought I would try it here for a good answer and possibly an update to your published privacy statement, if you don't mind.

The 'Sale of business' clause in Intuit's 'Privacy Policy' says that you will disclose or include my 'personal information' with most any business transaction you choose. I really want to use Quicken.com but this open-ended clause is a complete show-stopper for me. This clause basically nullifies everything else in your and TRUSTe's privacy declaration.

I have been a long term users of Quicken but it has always been a stand-alone system up until now (I never cared much about your privacy policies). I would like to continue using Quicken but I have decided to do much more online financial transactions and this hole in your privacy policy is a big one.

As your policy is now written, it just isn't clear (anywhere I've looked) exactly what 'personal information' you keep or how long you will own it.

I will continue to be a satisfied Intuit customer if you update your policy statement regarding exactly what and how long my 'personal information' will being kept and also exactly what 'personal information' is subject to being included with _your_ business transactions. I certainly certainly can't go along with Intuit sharing my financial information

Thanks,
Joe

 

[Zoron]

Your bank should provide all the online tools you need. I use online banking exclusively and my bank has all the tools on their website to automate payments or whatever is needed.