Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Class-action lawsuit over Yodlee consumer-data practices
A proposed class action against Envestnet and Yodlee alleged that users' financial data was collected without adequate knowledge and that the companies lacked sufficient security protocols. Envestnet sought dismissal. The court dismissed four of ten claims and allowed six claims to continue, while also finding that an alter-ego theory lacked sufficient evidentiary support.
2020
Envestnet and Yodlee sued in data privacy class action
Lawsuit filed
Envestnet and its subsidiary Yodlee were named in a class-action complaint concerning consumer data. According to the source report, the plaintiff alleged that the companies failed to protect consumer data by selling and sharing it through unencrypted files. The report presents these as allegations rather than established findings. The source does not state any outcome of the litigation.
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.