Even if you’ve never heard of a company called Plaid, they may owe you a part in a multi-million dollar lawsuit settlement, Fast company reported. Plaid, which connects consumers’ bank accounts with services like Venmo, Robin Hood hero, Coinbase, and other apps, are accused of collecting too much financial data from consumers. While denying any wrongdoing, they agreed to pay $58 million to all consumers whose bank accounts are linked to any of their approximately 5,000 client apps. .
The lawsuit alleges Plaid collects “more financial data than necessary from users.” It also claims that the company pulled in users’ banking credentials through its own “Parasite Link” interface, which “has the look and feel of the user’s own bank account login screen.” , follow settled website. In addition to the $58 million payout, the company was forced to change some of its business practices.
Millions of people use Plaid-linked apps, so any payout can be pretty slim. However, if you are a US resident with a bank account connected to the app between January 1, 2013 and November 19, 2021, you may be eligible to receive the claim. For more, see ‘s settlement location Frequently asked questions.
You may have received an email about the lawsuit, or you can check the settlement’s search to see if you’ve used an eligible application. In any case, you have until April 28, 2022 to send your request.
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