Isn’t that the point though, when you access a bank api you have signed a contract in order to access it that states what is allowed and what’s not, the api code is not the contract but a way to access what you are allowed. With smart contracts the code is that contract so if the code allows it then it should be allowed.
You don't have to sign a contract to find vulnerabilities in an API. The thing that you have to obey is the law. Just because we call it smart contracts it isn't above the laws.
Once the transaction goes through your account at the bank (in case of debit) will be overdrawn and the bank will charge a penalty sum/interest as well as asking you to put funds in to get it back to a positive balance again.
I agree with you on the data grab but this is true for all those services.
Regarding the data they have on you, at least for europeans, you have the right to have it deleted (GDPR).
That is technically not correct. GDPR only covers personal data with several important caveats. So you can't be walking around and claiming that it's all personal data and it all has to be deleted. The law doesn't work this way. This is a silly example, but nonetheless - you can't ask police to delete your criminal records. Nor can you request your bank to delete all transaction records from your bank account - even if you are leaving the bank.
But you will never get a proof that your data was deleted and if it eventually leaks, company gets a slap on the wrist if anything.
So far GDPR is a dead law - sure it looks like companies care with all those banners, but practices hardly changed and big companies can largely ignore it as long as they appear they comply on the surface.
There’s a reason why heart surgeons have nicknamed motorcycles ”donor cycles”. An unprotective vehicle in the hands of a young male who doesn’t yet grasp his own mortality.
"When I finished high school I wanted to take all my graduation money and buy myself a motorcycle. Buy my mom said no. See, she had a brother who died in a horrible motorcycle accident when he was 18. And I could just have his motorcycle."