2021 Privacy settlement — 98M users
Data compromised
Financial data, login credentials
Technical writeup
Settled Nov 2021. Class action alleged Plaid collected more financial data than necessary; used deceptive login interface mimicking bank screens; harvested/sold data without proper consent. $58M settlement. Affected apps: Venmo, Robinhood, Chime, SoFi, Coinbase. Plaid denied wrongdoing; agreed to minimize collection, delete unnecessary data, enhance disclosures.
Root cause
Excessive data collection; deceptive interface; inadequate consent.