Privacy is becoming more and more a legal issue and this piece covers it well.  Within the article there is a relevant point for banks and the tradeoffs that exist in use of information.

Nowhere to Run, Nowhere to Hide: The Online Privacy Issue – Knowledge@Wharton

In some ways, the debate over privacy on the web shows amnesia about longstanding business practices and consumer behavior, said Accenture’s Brodnitz. “People have been trading personal credit information for better rates on loans for years. They will give up information in exchange for higher quality or good service. Capital One broke the back of the 19.1% interest rate on credit cards by looking at other kinds of information.”