The policy discloses that Faire collects bank account information, payment card information, and credit history from users who access financial products such as Faire Capital, in addition to standard transaction payment data collected from all users.
This analysis describes what Faire's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes that Faire collects credit history and financial account information in connection with its financial products, which may engage Gramm-Leach-Bliley Act obligations, FCRA considerations where credit information is involved, and heightened GDPR special category or sensitive data considerations depending on jurisdiction and data type.
Interpretive note: The specific regulatory characterization of Faire Capital and Faire's status as a financial institution under GLBA or a consumer reporting agency under FCRA is not established in the document and would require independent legal analysis to determine the full scope of applicable obligations.
Under this provision, users who apply for or use Faire Capital or other financial products offered through the platform are required to provide bank account information, payment card details, and credit history, which Faire states it collects and retains as part of its standard data practices. Users who do not use financial products on the platform are not subject to credit history collection under this provision.
Cross-platform context
See how other platforms handle Financial and Payment Data Collection and similar clauses.
Compare across platforms →"We collect financial information such as bank account information, payment card information, credit history, and other financial information when you use financial products or services offered through our Services, such as Faire Capital.Excerpt from Faire's Privacy Policy
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This provision establishes that Faire collects credit history and financial account information in connection with its financial products, which may engage Gramm-Leach-Bliley Act obligations, FCRA considerations where credit information is involved, and heightened GDPR special category or sensitive data considerations depending on jurisdiction and data type.
Under this provision, users who apply for or use Faire Capital or other financial products offered through the platform are required to provide bank account information, payment card details, and credit history, which Faire states it collects and retains as part of its standard data practices. Users who do not use financial products on the platform are not subject to …
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