You may have recently received a Notice of Class Action Settlement regarding Plaid, Inc., the firm that links outside assets to your Investor360° account.
There was no security breach and none of your account data has been compromised. You do not need to change your login credentials at any of your financial institutions. In addition, none of the alleged actions occurred with your accounts in Investor360°. When you link outside accounts, Plaid is transparent about how it collects and uses the data you authorize it to access.
The settlement is in response to a lawsuit filed against Plaid that alleges it misled consumers and obtained more financial data than was authorized for some of Plaid’s other services. Investor360° has never used these services. You are, however, still eligible to take part in the settlement.
Under the proposed settlement, Plaid will pay $58 million into a settlement fund. If you wish to take part, you may do so by filing a claim. Your claim must be filed by April 28, 2022. You may also request to be excluded from or make objections to the settlement. For more information, important dates, and answers to frequently asked questions, please visit www.plaidsettlement.com.
If you have any questions or need help filing a claim, I’m here to help however I can. Please feel free to call me at 919-463-0018 or schedule a call if you’d like to discuss this matter further or have questions about your portfolio, Investor360°, or your external assets and account aggregation.
The Keystone Financial Partners Team