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ING Plan to Share Customer Payment Data Spurs Privacy Concerns

A debate over banking privacy erupted in the Netherlands after ING Groep NV’s Dutch lender revealed plans to share customers’ debit card data with companies competing for their business.

The bank wants to offer customers the option of receiving discounts from companies based on their spending patterns as revealed through data analysis, Hans Hagenaars, a director of the Dutch unit of Amsterdam-based ING, said in an interview on Dutch radio broadcaster NOS today.