Yodlee in Lawmakers Crosshairs over Data Sharing

Yodlee, a unit within Envestnet, has come under fire in recent days for their data sharing practices; Senators Ron Wyden, Sherwood Brown and Congresswoman Anna Eshoo write a letter to the FTC calling for Yodlee to be investigated over the claims about unfair, deceptive or abusive behavior; Yodlee commented they “comply with law and regulations and in accordance with leading industry practices for data security and privacy.”; the accusations are that Yodlee sells data to brokers who then sell it to investors which can include information which can reveal who a customer is; Yodlee anonymizes the data but the lawmakers contend that there is still identifiable information; Senator Wyden cited a 2015 study in the journal Science which examined 1.1 million people’s credit-card transactions and 90% of the individuals were identified. Wall Street Journal

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]