Plaid must pay $58 million to users of Venmo, Robinhood and other apps | Engadget

Plaid must pay $58 million to users of Venmo, Robinhood and other apps

Lawsuit, News

1/24/2022 12:04:00 PM

Plaid must pay $58 million to users of Venmo , Robinhood and other apps

Even if you've never heard of a company called Plaid , they may owe you part of a multi-million dollar lawsuit settlement..

, Coinbase and other apps, was accused of collecting excessive financial data from consumers. While denying any wrongdoing, it agreed to pay $58 million to all consumers with a linked bank account to any of its approximately 5,000 client apps.The lawsuit accused Plaid of collecting"more financial data than was needed from users." It also claimed that the company obtained users' bank login information via its own"Plaid Link" interface,"which had the look and feel of the user’s own bank account login screen," according to the

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UVALDE, Texas (KUSI) – Texas Governor, Greg Abbott, confirms the deaths of 14 children and one teacher after an active shooter was reported at Robb Elementary School in Uvalde. The Governor of Texas had also identified the shooter as 18-year-old Salvador Ramos, a student at Uvalde High School, assumed dead. “He shot and killed horrifically and incomprehensibly 14 students and killed... Read more >>

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USAA

Plaid to Pay $58 Million to Users of Venmo, Robinhood, and MoreFintech company Plaid is paying out a $58 million settlement to customers of 5,000 apps that used its interface to connect the apps to their bank accounts. Sweet! This’ll pay for a coffee at Starbucks

Plaid, the service used by Venmo, Acorns, Robinhood, and more, may owe you some moneyYou might’ve received a class-action lawsuit notification via email. I guess i got plaid 🥁

Plaid to Pay $58 Million to Users of Venmo, Robinhood, and MoreFintech company Plaid is paying out a $58 million settlement to customers of 5,000 apps that used its interface to connect the apps to their bank accounts. Sweet! This’ll pay for a coffee at Starbucks

Plaid, the service used by Venmo, Acorns, Robinhood, and more, may owe you some moneyYou might’ve received a class-action lawsuit notification via email. I guess i got plaid 🥁

Solana Network Suffers Yet Another Network Outage: DeFi Users Pay the PriceThe Solana network was down again for 48 hours, but this time users who took loans were forced to pay the price as they faced heavy liquidations.

US labor board says Amazon illegally fired union organizer in New York | EngadgetThe NLRB will issue a formal complaint against Amazon if it doesn't settle the case.. hasanthehun I dumped Amazon years ago after they deliberately violated my privacy. They showed up at my home on a Sunday after being told repeatedly not to & left a package below a sign that said No Sunday Deliveries & then refused to return & take it back. So glad Amazon is gone. Why not just have a law that will automatically make any gig worker part of a union and same with warehouse workers. Any company over billion dollars can only hire union. And make union laws so groups are non profit and it’s organizers cannot earn more x amount over any member.

Robinhood , Coinbase and other apps, was accused of collecting excessive financial data from consumers. While denying any wrongdoing, it agreed to pay $58 million to all consumers with a linked bank account to any of its approximately 5,000 client apps. The lawsuit accused Plaid of collecting"more financial data than was needed from users." It also claimed that the company obtained users' bank login information via its own"Plaid Link" interface,"which had the look and feel of the user’s own bank account login screen," according to the settlement website. On top of the $58 million payout, the company was forced to change some of its business practices.  Millions of people use apps linked to Plaid, so any payout might be pretty slim. Still, if you're a US resident who had a bank account connected to the app between January 1st, 2013 and November 19th, 2021, you may qualify to receive a claim. For more, see the settlement site's FAQ .  You may have already received an email about the lawsuit, or you can check the settlement's search section to see if you've used an app that qualifies. In any case, you have until April 28th, 2022 to submit your claim . All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. Popular on Engadget