As Plaid has evolved from backend infrastructure for developers to also providing front-end solutions, we have become an industry leader in consumer privacy practices. "We help consumers safely connect their financial accounts to the apps and services they rely on. "The claims raised in the lawsuit do not reflect our practices," a Plaid spokesperson replied to a request for comment. A final approval hearing for the settlement is scheduled for May. But with Plaid's portfolio consisting of over 5,500 client apps and an estimated 98 million people, payouts are likely to be minimal.Ī judge approved the proposed settlement in November, and some people have reportedly received notices this month stating they may be eligible to make a claim. The settlement requires Plaid to pay out $58 million to consumers. Fact or fiction: The IRS is tracking PayPal and Cash App transactions in 2022.
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