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**This settlement is available for claimants with and without proof.**
What's This Settlement About?
A $58 Million Settlement has been proposed in class action litigation against Plaid Inc. (“Plaid”). Approximately 5,000 mobile and web-based applications (“apps”) use Plaid to enable users to connect the app to the users' bank account(s). Some of the top bank accounts in the United States use Plaid to allow banking customers to connect between different financial services. This class action alleges Plaid took certain improper actions in connection with this process. The allegations include that Plaid: (1) obtained more financial data than was needed by a user's app, and (2) obtained log-in credentials (username and password) through its user interface, known as “Plaid Link,” which had the look and feel of the user's own bank account login screen, when users were actually providing their login credentials directly to Plaid. Plaid denies these allegations and any wrongdoing and maintains that it adequately disclosed and maintained transparency about its practices to consumers.
The Settlement provides both monetary and injunctive relief to all Class Members. Class
Members who make claims will be entitled to monetary compensation, on a pro rata basis,
depending on how many Class Products they purchased during the Class Period.
To confirm whether specific apps or services that connected to your financial account(s) used Plaid for account connections, you can run a search to confirm the app or service you used qualifies by clicking HERE.
How Do I Qualify?
You may be a Class Member if you are a United States resident and you connected a financial account to an app between January 1, 2013 and November 19, 2021. More specifically, you are a Class Member if you own or owned one or more “Financial Accounts” (defined in Question 7) that Plaid accessed using your login credentials and connected to a mobile or web-based app that enables payments or other money transfers; or for which you provided Financial Account login credentials to Plaid through Plaid Link; between January 1, 2013 and November 19, 2021.
What Can I Get?
This Settlement establishes a $58 million Settlement Fund, to be used for cash payments to Class Members who submit valid claims for compensation, after deducting the costs of the settlement administration, court-approved attorneys' fees and expenses, and Service Awards for eleven Class Representatives. The amount of monetary payments issued to Class Members will depend on the number of valid claims received.
How Do I File a Claim?
Class Members wishing to make a claim must submit a claim form online
The deadline for submitting a claim is April 28, 2022. The deadline for submitting the claim form has passed.