Plaid to Pay $58M to Users of Venmo, Robinhood, and More

There is a settlement but no ruling.

Maybe the ruling should be guilty of stupidity for giving anyone your banking credentials. This is something that senile old folks typically do.

I already received my settlement email and signed up for compensation.

I was not given another option to perform my account verification for the banking tasks to be completed. Plaid Or Bust. Not old or senile, just held captive by American legacy finance, so I support the taking of this pound of flesh from an unscrupulous fintech, and hope to see more of this in absence of robust US data privacy and governance regulation.

https://www.plaidsettlement.com/

I tried for literal years to avoid dealing with Plaid to send money, but finally broke down this last summer when trying to pay rent electronically. There was literally no other service that would allow me to pay, and mailing a check was not an option. I was aware of the scummy tactics, but literally had no alternative. I'm relieved for this settlement, frankly.

And American Express, Capital One, Wells Fargo, and Coinbase

If the price was only $58m, it seems they gambled correctly.