If You Used Apps Like Venmo, Robinhood, and American Express, You Might Be Owed Money
to find out whether emails informing them of a “Plaid settlement” were legitimate or spam. They are real, and if you got one, there’s a chance you could be owed some money from the fintech company’s recent $58 million class action settlement., from mobile banking and savings apps to business services and payment apps. In fact, you might find that one of your go-to apps uses Plaid to function, like I did when writing this article.
Last year, Plaid settled a class action lawsuit for $58 million brought by users who claimed that the company obtained their bank login information and gathered more data from them than was necessary., plaintiffs said that the company designed its Plaid Link interface to have the look and feel and their bank accounts’ login screens, which led them to enter their usernames and passwords. The usernames and passwords were then provided to Plaid via the interface.
Plaid has denied these allegations. Because it reached a settlement with the plaintiffs, the court has not ruled on whether the company is guilty of what it’s accused of.
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