New Data Theft Class Action by Users of Venmo, Stripe, and Other Payment Platforms Against Plaid Alleges Violations of Data Privacy Laws

Plaid Financial Privacy Suit

As reported by Law360 (subscription), Lieff Cabraser has filed a class action lawsuit in federal court in California alleging that financial tech start up Plaid Inc. stole Venmo and Stripe users’ personal banking data and sold that data to third party apps without the users’ consent in violation of federal and state privacy laws. Plaid, which recently agreed to be acquired by global payments behemoth Visa for $5.3 billion, provides third-party bank account authentication services for several well-known payment and investment apps, including Venmo, Coinbase, Square’s Cash App, and Stripe. [Read more…]

California Personal Data Breaches Top 24 Million

California Personal Data Breaches Top 24 Million

Nearly three in five individuals residing in California became victims of a data breach in 2015, according to the California Data Breach Report published this month. The number of data breaches has increased over time, going from 131 incidents reported in 2012 (involving the records of 2.6 million Californians) to 178 breaches in 2015 with over 24 million records and individuals affected. [Read more…]