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Comment: Privacy settlements grow more lucrative, Plaid's $58 million US privacy deal shows

By Amy Miller ( August 7, 2021, 00:30 GMT | Comment) -- Tech companies used to settle privacy class actions primarily with payouts to privacy groups or universities. All that's changing, as agreements to resolve privacy litigation are getting bigger and becoming more lucrative for consumers. The latest example is Plaid’s $58 million proposal to settle US allegations that the fintech startup violated consumers’ privacy by exploiting its role as a "middleman" between banks and payment apps to amass a trove of data from millions of bank accounts. The days of tech companies settling privacy class actions by paying a few million dollars to privacy groups or universities may be numbered....

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