So Yeah, add yet another consumer report to a growing list of reports and scores you can get. Plaid was already known as the invasive software that links to your bank accounts and gives them (the lender or service that requests it) about 24 months of your bank account activity. The X1 card was well known to use Plaid in it's application process. There are several other lenders and/or services like Venmo etc... who now use it as well.
It captures deposits (can determine your employer as well), balance trends, cash flow (including categorized spending patterns)... all in the name of what equates to essentially making sure you're not a liar in regards to your income... Tax returns? HA... Nah... those can be fudged is Plaid's mantra.
Apparently they now offer this consumer report with a risk score based on your banking activity and the likelihood of default. The score referred to as your "Lend Score" ranges from 1 - 99. The report is also supposed to be FCRA compliant in the same way tradition reports from Equifax, TransUnion, Experian are in regards to accuracy, disputes of inaccurate reporting etc...
It should go without saying that I'm not a fan of Plaid or anything like it. I see these services as nothing more than extremely invasive data mining operations.
