The following is from sponsored content posted on Top Class Actions:
Plaid Inc. has agreed to pay $58 million to end class action lawsuit claims that it violated data privacy laws.
The settlement benefits any U.S. resident who owns or owned one or more “financial accounts” accessed by Plaid, or for which Plaid obtained their login credentials, between Jan. 1. 2013, and Nov. 19, 2021, and the Class Member was a U.S. resident at the time.
Plaid Inc. works with more than 5,500 fintech partners, according to its website, powering consumer-facing apps and other services. Some of the more popular apps that use Plaid include Chime, Venmo, and Stripe, among others.
In addition, Plaid must also delete certain data from its systems, inform Class Members of the ability to use Plaid Portal to manage connections and delete data, minimize the data the company stores, and take other measures.
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