> Plaid used consumers’ banking login credentials to gather and distribute detailed financial data without prior consent
> Allegedly, these actions occurred without users knowing about Plaid’s role is a variance of “deceptive tactics.”
And for all this:
> If all 98 million people were to file a claim, each would receive just 60 cents.
> The San-Francisco based platform raised a $425 million funding round in April
The current capitalistic system is broken beyond repair. We need stricter corporate regulation (especially in fintech but more broadly) very urgently.
> Plaid used consumers’ banking login credentials to gather and distribute detailed financial data without prior consent
> Allegedly, these actions occurred without users knowing about Plaid’s role is a variance of “deceptive tactics.”
And for all this:
> If all 98 million people were to file a claim, each would receive just 60 cents.
> The San-Francisco based platform raised a $425 million funding round in April
The current capitalistic system is broken beyond repair. We need stricter corporate regulation (especially in fintech but more broadly) very urgently.