Visa-owned fintech Plaid agrees pay class action closure - Visa-owned fintech Plaid agrees pay € 49.5 million to close a class action lawsuit alleging the company accessed users ' bank access credentials.

Plaid is a fintech intermediary between users and financial apps like Venmo-a Bizum-like platform with more than 40 million users-that makes it easy for people to"securely connect their financial accounts to the apps they use to manage their financial lives."

The security of Plaid's services, however, has been called into question after the financial technology company has agreed to pay 49.5 million euros to close a class action lawsuit that is still open in the northern California district court in the United States.

Visa-owned fintech Plaid agrees pay class action closure

Plaid was acquired by Visa in 2020 for 4.747 million euros, and in the class-action lawsuit has faced accusations of "invasion of privacy, intrusion into private affairs, illicit enrichment, deception and breach of the anti-phishing California".

The lawsuit filed by app users accused Plaid of accessing approximately 200 million accounts in the United States.

According to the plaintiffs, Plaid stole users 'bank credentials from its user interface" which was designed to look like that of the users ' bank."

In this way, the company "took advantage of its position as an intermediary," the plaintiffs argue, and used the information obtained to access each user's transaction history and sell it without the users ' consent.

Visa-owned fintech Plaid agrees pay class action closure

It should be remembered that access to the information of the purchases of the users is very beneficial for the companies, since it allows them to adapt their offers to the habits of the same.

The DIA supermarket, for example, uses customer loyalty card data to understand their consumption habits and recommend products they don't buy yet.

Apart from the payment of the 49.5 million euros, the conciliation document between Plaid and the plaintiffs indicates that the company will make changes to the design of its interface, reveal to its consumers how it uses their data, and delete bank details of consumers whose apps have not requested that information.

Visa-owned fintech Plaid agrees pay class action closure

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The 'military' can serve you for early retirement: these are the requirements and steps for military service to compute for the contribution

The time spent on military service or alternative social benefit, which was compulsory until 2001 for those over the age of 18, may increase the contribution time and influence the time of retirement and receipt of the benefit.

"Periods of military service or alternative social benefit are only calculated to reach the specific contribution period in the case of early retirement, voluntary or involuntary, and with the maximum limit of one year," reports the Social Security.

"For this reason, only in the event that this contribution is necessary, a screen will open requesting that the period of such military service be completed. If you don't need to, you don't have to say anything," he says on his website.

This means that those who have done military service (military service that was compulsory until 2001 for adults) or alternative social service (non-military social work) can take advantage of this period to increase the calculation of the contribution.

For this, of course, 3 aspects must be taken into account: it serves only for early retirement, supposes a maximum of one year and applies only if that time is necessary to reach the limit.

That is to say, if a person can prove only 34 of the 35 years that are required at least to access voluntary early retirement, and has done the military service (or the alternative of the substitute social benefit), that period of military service could be counted against the maximum limit of one year and thus could retire earlier.

So collect Social Security when describing the requirements for the voluntary early retirement, among which points to the need to establish a minimum contribution period effective "35 years, however, to such effects, taking into account the proportional part for extraordinary payments or the payment of years and days of quote-quotes prior to 01-01-1967".

"For these exclusive purposes, only the period of performance of compulsory military service or alternative social benefit shall be counted, with a maximum limit of one year. For the calculation of the periods of contribution, full periods will be taken, without the fraction of it being equated to a period," he explains.

In the case of involuntary early retirement, the minimum period of effective contribution that must be accredited is 33 years, so military service or alternative social benefit would only add up in the calculation for people with at least 32 years of contributions.

For military service to count in your working life for the calculation of your retirement, it is necessary to perform a series of procedures before accrediting that period.

First, you have to address an instance to the subdelegation of the Ministry of Defense of the province in which you resided when you began military service, in order to generate a document that demonstrates the time you did the military.

Then, you must complete an application with your personal data and provide a photocopy of the DNI (National Identity Card) and another of the military card.

You also need to provide documentation that accredits the re-enlistments in the army or voluntary periods that you have made, to ask for the recognition of these, reports 65ymás.

Finally, when you've collected all the necessary documents to prove the mili as the period of contribution in the face of early retirement, including the certificate of instances military —that will facilitate the delegation of the Ministry of Defense, you will have to aportarlo in the Social Security and indicate your desire to include in your working life.