> Plaid has settled a $58 million class action lawsuit over claims that the fintech firm passed on personal banking data to third party firms without user consent.
and selling transaction histories:
> the plaintiffs alleged that Plaid has “exploited its position as middleman” to obtain app users’ banking login credentials and use that information to gain access to and sell their transaction histories.
For what it's worth I haven't read the actual lawsuit yet, but would love a link if it refutes the article.
I wrote a post above on my take but TL;DR - I think that the suit is mostly alleging that Plaid doesn't do enough disclosure of what's happening behind the scenes. It suggests that Plaid might sell the data to unrelated third parties, but doesn't support it with any proof. It does support itself with proof that Plaid "sells" data to the app that is being connected to the bank.
> Plaid has settled a $58 million class action lawsuit over claims that the fintech firm passed on personal banking data to third party firms without user consent.
and selling transaction histories:
> the plaintiffs alleged that Plaid has “exploited its position as middleman” to obtain app users’ banking login credentials and use that information to gain access to and sell their transaction histories.
For what it's worth I haven't read the actual lawsuit yet, but would love a link if it refutes the article.