It's not clear if Facebook's attempts to obtain user financial data will be successful or not, but we'll likely find out in the coming months.
According to WSJ, Facebook doesn't want to just be a platform where you can communicate with your friends, but also a place to buy and sell goods and services.
The Silicon Valley-based social network also contacted US Bancorp, according to the Wall Street Journal, which first reported the news.
In brief: Facebook doesn't exactly have the best track record when it comes to data privacy, but the company isn't letting its troubled past deter it from pursuing new data sharing partnerships.
FBN's Stuart Varney, Ashley Webster and Liz MacDonald on reports Facebook is asking banks for financial information about their customers.
JPMorgan Chase spokeswoman Patricia Wexler directed AFP to a statement given to the Wall Street Journal saying, "We don't share our customers" off-platform transaction data with these platforms and have had to say "No' to some things as a result".
From Facebook's perspective, the company believes that more customer information means more targeted efforts at engaging its user base.
Facebook has reportedly said that it wouldn't use the data to improve its ad-targeting or share it with others.
"While we regularly have conversations about potential partnerships, safeguarding the security and privacy of our customers' data and providing customer choice are paramount in everything we do", Citigroup told AFP by email. Unless Facebook is able to reassure the banks that it either won't have direct access to the data itself, or that the data will never be used for advertising purposes, then the company may not succeed in convincing US banks to share their customers data. This marks the largest gain since the rapid drop in July.