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I disagree. Yes, Plaid should be fined or even liquidated for selling their customers' data. Yes, their security approach is a nightmare. On the other hand, the
by smarx007 5y ago
I disagree. Yes, Plaid should be fined or even liquidated for selling their customers' data. Yes, their security approach is a nightmare. On the other hand, the choice of whom to let process your data should be yours and companies should not be able to limit that under CFAA or "for your safety" pretexts.
I think mandating API access for large consumer-facing apps is the way to go. Think of it as a "power of an attorney for all things digital". And banks are not "inflexible and slow on the uptake for new technology". In Europe the API integration only happened with the "help" of lawmakers: https://www.bloomberg.com/professional/blog/europes-new-api-rules-lay-groundwork-for-regulating-open-banking/ https://www.bloomberg.com/professional/blog/europes-new-api-...