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Plaid, the company that Coinbase (& others), uses to suck data from your bank account, was acquired by Visa

Plaid, the company that Coinbase (& others), uses to suck data from your bank account, was acquired by Visa

Bitcoin Reddit

Reddit / Bitcoin Reddit 13 Views

CNBC article on the acquisition:

"[In the U.S., or Canada,] when you "link" your bank account on Coinbase, ... a data harvesting company called Plaid rifles through the last couple years of your bank transaction history. (There is the option to opt-out though almost nobody does)."

This is not unique to Coinbase. I see Gemini, RobinHood, Abra and GiveBitcoin do this as well.

"We may collect, use, and share End User Information in an aggregated, de-identified, or anonymized manner (that does not identify you personally) for any purpose permitted under applicable law."

Nice, huh? Your "de-identified" data is sent to people who have other bits of info that certainly make it easy to "re-identify" you.

Don't like that Plaid does this to you? Then don't use a crappy exchange that suckers you into giving Plaid access to your bank account.

#DELETECOINBASE

"25 percent of people in the United States with bank accounts have connected to the fintech company through an app" Wow.

submitted by /u/cointastical
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