“As Apple prepares to announce its latest and greatest devices later today (Sept. 7), it’s worth checking in on something launched at last year’s event,” Mike Murphy writes for Quartz. “Back then, Apple introduced the iPhone Upgrade Program, a way of leasing the newest iPhones on a monthly installment plan that last two years.”

“But a closer look at the program contract reveals those that enrolled might have released their personal information to a far larger group than they had expected,” Murphy writes. “Anyone wishing to sign up for the upgrade program — currently only available in the US — actually signs a deal with Citizens Bank’s personal loan subsidiary, Citizens One, which finances the loan for Apple. ”

Murphy writes, “But a closer look at the program contract reveals those that enrolled might have released their personal information to a far larger group than they had expected… According to the letter, Citizens use your information to market its own products, and share your information so that ‘affiliates’ can also market to you. Citizens Bank wasn’t immediately available to explain the difference between ‘affiliates’ and ‘nonaffiliates,’ or how often it shares customers’ personal information.

Read more in the full article here.

MacDailyNews Take: Hopefully the information is guarded well and judiciously used at all times – and given Apple’s stance on privacy, we expect it.