It was introduced a new class action lawsuit against fintech startup Plaid, with more plaintiffs who claim that The company has violated the privacy of user data.
The new complaint was filed on behalf of four new applicants He claimed that Plaid, who bought Visa for $ 5.3 billion this year, has gathered information on more than 200 million different financial accounts that use services such as Venmo, Coinbase, Square Cashs App, and Stripe.
The complaint states that Plaid was given “direct and complete access to Plaid’s personal financial banking information for business purposes that is not related to consumer use of the applications.” Add:
“Plaid uses its misdirected information in a number of ways, including marketing the data to its app customers, analyzing the data for consumer insights, and selling its data collection to Visa. Plaid has been wrong in a billion-dollar acquisition benefited from the personal data of millions of Americans and wrongly interfered in their private financial affairs. “
This is the second class action against Plaid. The first lawsuit has been filed on June 25, he claimed that plaid was “data installation” popular services like Venmo, Stripe, Cash App and Robinhood.
Cointelegraph reported that Plaid rejected the allegations and never sold user data. Coinbase also confirmed that it relies on plaid to confirm the account, but the data was never shared with the exchange.