Re:U.S. sues Visa to block its acquisition of Plaid
by drexlspivey on Thursday November 05, 2020 @03:29PM
(#25001641)
It’s absolutely insane to me that people willingly give their bank credentials to random third party companies. Plaid (and others) are basically mitm as a service and they’ve built a billion dollar business because banks live technologically in the stone age
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Re:U.S. sues Visa to block its acquisition of Plaid
by randomdude402 on Thursday November 05, 2020 @10:48PM
(#25004702)
It's amazing... amazing to me the confused looks I get from people when they start telling me their venmo credentials or whatever and I just hand them a 20 dollar bill for my share of lunch.
It's exhausting explaining to people that I am fine with them having an extra dollar and two cents over what I owe if the alternative is giving my fucking banking password to some california cowboy company that doesn't have to follow banking regulations.
Re:U.S. sues Visa to block its acquisition of Plaid
by tatersolid on Friday November 06, 2020 @07:27AM
(#25007132)
> some california cowboy company that doesn't have to follow banking regulations.
Oh they do legally need to follow most banking regulations. That many “fintech” companies don’t do regulatory training and compliance will result in hefty fines and shutdowns. The FDIC, FTC, OTS, etc. are pretty humorless and fairly efficient and effective.