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FoolProof, the financial literacy advocacy project sponsored by credit unions, has joined nine national consumer organizations in filing a complaint with the Federal Trade Commission against Facebook over privacy rules.

“In the past days, every user of Facebook has been asked to update their privacy settings,” said Will deHoo, FoolProof’s 29-year-old president and founder. “Facebook implies that the update will enhance a users’ privacy but we think the opposite is true because we believe the enhancements put users at risk of identity theft or worse.”

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