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You can use many apps to link your bank account.
Photo illustration by Rafael Henrique.
According to a report by Fast Company, if you have connected your bank account to a financial app, you may be entitled to some cash.
A class-action lawsuit has been settled by Plaid, a financial service that links your bank account. The suit alleges that Plaid obtained users' bank login information through its user interface, known as "Plaid Link," which had the look and feel of the user's own bank account login screen. Users were putting their information directly to Plaid. Plaid says it was transparent with its customers.
$58 million was ordered to be paid to affected users by Plaid.
The company says millions of people have interacted with its service, which means more money to split up. If you are a US resident, you may be able to receive a claim if you have connected a bank account to an app between January 1st, 2013 and November 19th, 2021. You can search for specific financial apps on the settlement's site if you're unsure if an app you use is affected. Chime, Mint, Betterment, and NerdWallet are some of the popular apps that have Plaid powers.
If you received an email about the class action lawsuit, you should submit your claim by April 28th, 2022. You can still file a claim if you didn't receive an email but think you have been affected. You will have to fill out a form with your name and address, as well as a list of apps you linked your bank account to. You can find more information on the FAQ page.
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