Yodlee controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Consumer financial-data privacy controversy
Lawmakers and consumer advocates questioned whether Yodlee and Envestnet were selling or sharing consumer financial data without sufficiently clear consent. In August 2020, a class-action complaint alleged inadequate security protections and failure to protect consumer data. Yodlee and Envestnet said users had consented to access and disputed the allegation that consumers had suffered tangible injury.
2020
Envestnet and Yodlee sued in data privacy class action
Lawsuit filed
Envestnet and its subsidiary Yodlee were sued in a class-action complaint. The plaintiff alleged that they failed to protect consumer data by selling and sharing it via unencrypted files; the allegations are not stated as findings.
Source excerpt
Additionally, the plaintiff proffered that Yodlee stores login information for bank accounts and then “exploits this information to routinely extract data from that user’s accounts without their consent.”
On Tuesday, Envestnet and its subsidiary finance data aggregator, Yodlee, were sued in a class-action complaint in the Northern District of California over their alleged failure to protect consumer data by selling and sharing it via unencrypted files, which the plaintiff claimed left her and the class vulnerable to fraud and identity theft.