The Instigator
TorriM
Pro (for)
Tied
0 Points
The Contender
mcdonald
Con (against)
Tied
0 Points

Should all kinds of banking data be publicly available?

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Voting Style: Open Point System: 7 Point
Started: 11/5/2015 Category: Miscellaneous
Updated: 1 year ago Status: Post Voting Period
Viewed: 171 times Debate No: 82111
Debate Rounds (3)
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TorriM

Pro

We often consider the issue of privacy when thinking about how much information banks store about the payments and movements of individual consumers. Many people think that banks shouldn't be allowed to trace this kind of data or store it for future marketing use. Nowadays it's a normal practice of banks to categorize all payments made with a card to generate reports which are there to help clients manage their finances. Obviously, not everyone is happy about it.

But let's not turn to the other side of the coin. Do we ever think about how much information regular consumers should be able to access about banks? Instinctively we'd say that consumers have the right to know everything about an establishment before deciding to use its products, especially if those are major investments or serious retirement plans.


But the issue is far more complicated. There exist many online business directories or directories dedicated specifically to banks, such as Bankopening, which offer a wide range of bank data, some of which might be considered sensitive. The problem of security is a serious one – banks are responsible for the savings of the vast majority of citizens (I guess there aren't many of us who like to store their money in secret drawers or use it to stuff their mattresses, right?).

Should internet users be given the opportunity to delve into banking data in such detail? Is banking data any different from data about other businesses? I would like to hear arguments both for and against allowing banking data to be publicly displayed on the web.

Debate Round No. 1
TorriM

Pro

TorriM forfeited this round.
mcdonald

Con

mcdonald forfeited this round.
Debate Round No. 2
TorriM

Pro

TorriM forfeited this round.
mcdonald

Con

mcdonald forfeited this round.
Debate Round No. 3
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