Plaid
Closing the account does not close the file. Money-laundering and tax rules keep your identity and transaction records for years, and a permission to share your data wherever the law allows covers much of the rest. The holds set by statute are the ones no request can move.
Reported incidents
Court approved settlement requiring it to delete some bank data it collected
2022-07-20Affected Plaid Link and the Transactions product
On 20 July 2022 the US District Court for the Northern District of California gave final approval to Plaid's $58 million privacy settlement. The class covered people in the United States whose bank logins Plaid used to connect their accounts to money apps from 1 January 2013 to 19 November 2021. Plaid must delete transaction data it collected where the connected app did not ask for it, delete data where it can no longer reach the account, store less data from people's accounts, explain its data use in more detail, and point people to Plaid Portal, where they can view and manage their app connections.
Agreed to pay $58 million over bank data collected through app logins
2021-08-06Affected Plaid Link, the screen where people enter their bank login inside an app
Plaid said on 6 August 2021 that it had agreed to settle five class actions filed against it in 2020. The plaintiffs said Plaid's login screens inside money apps looked like their own banks' screens, and that Plaid used the logins to collect and sell their financial data without consent. Plaid agreed to pay $58 million, delete some financial account data, including data from closed accounts, store less data, and tell people more clearly about its role when they connect an account. Plaid said it "does not, and never has, sold data" and that it disagreed with the claims.
People affected typically ask Plaid to confirm whether their information was included, and which categories.
The verified route
Where data goes
What Plaid likely holds
What banks typically hold about you, from our industry research, the most sensitive first.
Pick a folder to see where it goes.
Most sensitive
Sensitive
Everyday
Where it goes
On Plaid's behalf
They handle your data on Plaid's instructions. If Plaid uses them, a request to Plaid should reach them.
Inferred services
Services banks typically use.
Get their own copy
A request to Plaid doesn't reach them. Each needs its own, and some keep records under a legal duty.
Inferred practices
What banks typically do with your data, from our industry research.
DÆTRAX is a personal data accountability ledger: a dated record of which companies hold your personal data, what you asked them to do about it, and what they claimed in reply.