In data dispute with Capital One, Plaid stands alone

Editor’s Note: Cross-posted from the FISMA Focus/Regulatory Cybersecurity Forum.

From: American Banker

By Nathan DiCamillo

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“CapOne is a leading bank that is highly concerned about its customers’ data,” said Steve Smith, CEO of the data aggregator Finicity. “If they take steps to secure their customers’ data and other aggregators have continued access to that data, then you have to ask yourself what’s really going on there. Aggregators don’t use the same methodology across the board.”

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That has left Plaid increasingly isolated since it unexpectedly launched a social media campaign against Capital One in late June in the name of information sharing, urging its customers to fight back on Twitter. Plaid encouraged customers to file complaints to the Consumer Financial Protection Bureau, and then went silent. The aggregator did not comment for this article.

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