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Plaid Class Action Suit

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shadanat
Frequent Contributor

Plaid Class Action Suit

I know a lot of us has jumped into the FinTech world but I saw this morning that there is a class action suit against Plaid

"

A Settlement has been proposed in class action litigation against Plaid Inc. (“Plaid”). Approximately 5,000 mobile and web-based applications (“apps”) use Plaid to enable users to connect the app to the users' bank account(s). This class action alleges Plaid took certain improper actions in connection with this process. The allegations include that Plaid: (1) obtained more financial data than was needed by a user's app, and (2) obtained log-in credentials (username and password) through its user interface, known as “Plaid Link,” which had the look and feel of the user's own bank account login screen, when users were actually providing their login credentials directly to Plaid. Plaid denies these allegations and any wrongdoing and maintains that it adequately disclosed and maintained transparency about its practices to consumers.

You may be a Class Member if you are a United States resident and you connected a financial account to an app between January 1, 2013 and November 19, 2021. More specifically, you are a Class Member if you own or owned one or more “Financial Accounts” (defined in Question 7) that Plaid accessed using your login credentials and connected to a mobile or web-based app that enables payments or other money transfers; or for which you provided Financial Account login credentials to Plaid through Plaid Link; between January 1, 2013 and November 19, 2021."

 

There is a section on the page to see which institutions are include

 

https://www.plaidsettlement.com/submit-claim.php

Message 1 of 9
8 REPLIES 8
SUPERSQUID
Valued Contributor

Re: Plaid Class Action Suit

Why are they asking for money to join a class action suit? I have joined class action suits before with zero money up front. the law firm gets paid by a pct of the award.

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Message 2 of 9
shadanat
Frequent Contributor

Re: Plaid Class Action Suit


@SUPERSQUID wrote:

Why are they asking for money to join a class action suit? I have joined class action suits before with zero money up front. the law firm gets paid by a pct of the award.


There is no mention of money to join. There are to ways to join. With a notice and without. 

They do ask which accounts have used Plaid. You would just need to add your bank name and when you connected Plaid to it and what service. No account numbers just the institution. 

Message 3 of 9
Rayw23
Valued Member

Plaid

Anyone get an email about a plaid lawsuit? I know some of the cc soft pull use them to verify income. My main credit union isn't listed with them so I've never been able to . Was just curious if it was spam.

Message 4 of 9
bigseegar
Established Contributor

Re: Plaid

Google is your friend. Literally took me less time to type in "Plaid Lawsuit" than it did for you to type your question.

 

https://topclassactions.com/lawsuit-settlements/privacy/plaid-data-privacy-58m-class-action-settleme...

Message 5 of 9
Rayw23
Valued Member

Re: Plaid

In my defense it was early in the morning 🙈


@bigseegar wrote:

Google is your friend. Literally took me less time to type in "Plaid Lawsuit" than it did for you to type your question.

 

https://topclassactions.com/lawsuit-settlements/privacy/plaid-data-privacy-58m-class-action-settleme...


 

Message 6 of 9
4sallypat
Valued Contributor

Re: Plaid

I got 3 identical emails on the lawsuit - work, personal, business email accounts!

 

Of the 3 bank accounts, I have many links via Plaid - mortgage lender, X1 Card, Aspiration bank, Sofi Card, Upgrade card, Wells Fargo, NAV business, etc....

 

Should I go thru with the lawsuit and join ???

Message 7 of 9
Remedios
Credit Mentor

Re: Plaid


@bigseegar wrote:

Google is your friend. Literally took me less time to type in "Plaid Lawsuit" than it did for you to type your question.

 

https://topclassactions.com/lawsuit-settlements/privacy/plaid-data-privacy-58m-class-action-settleme...


 

The irony of telling someone to Google when there is an existing thread already is not lost on me. Also, TOS is your friend, no need to get snarky over a search. 

https://ficoforums.myfico.com/t5/General-Credit-Topics/Plaid-Class-Action-Suit/m-p/6470935#M318833  

 

 

 

 

 

"To The Left" ~ Gandhi
Message 8 of 9
Duke_Nukem
Established Contributor

Re: Plaid

Check for your settlement deposits...

 

Realized yesterday that I had some extra $ in my Paypal account, and saw where 2 deposits were made (one for me and one for DW) for this class action lawsuit settlement.  Each was just over $37, which is more than I ever expected to see!


Message 9 of 9
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