[1ste]

Plaid provides account aggregation features so it definitely do access your transaction history. Is your issue with Robinhood collecting this data or Plaid.. or is the issue with sharing your transaction history.

What do other people think about sharing this type of information?

[aje403]

I think it's really obvious what people think, the question is whether people know or not. I think it's pretty obvious this should be considered criminal theft. This is like if you hire guys to sweep and dust the shelfs in your bank vault and you walk in on them taking pictures and writing down every single item on a ledger. All across the country. Not that you should hire people to clean your bank vault. This should be extremely illegal. We just really need more congressmen who know what an email address is.

[1ste]

I'm talking about giving consent and actively sharing the data. Look up PSD2 in Europe.

[aje403]

No, you can't have my bank account transaction history. I am speaking on behalf of every human being on the planet not employed at Plaid. Why is this a question?

I looked it up - I'm sure the regulation is massive so not going to read through it entirely, but that looks terrifying. Great time to buy a plot of land somewhere not covered by google maps and start burying gold. I can't really imagine a product that would I would use on top of that and I'm kind of curious who exactly lobbied for that legislation.

[1ste]

When you go for a mortgage you have to share your transaction history with the bank you apply to. You may apply to multiple banks and you may use a broker who you would also have to share that information with.

I think people would share that information if they could get some benefit from it.

[aje403]

Mortgages are not a remotely valid analogy here unless, in the case of Robinhood, you try to compare it with margin accounts, which I think is actually a fair analogy but is not the case here. And even then, the bank does not steal your transaction history without your awareness or consent, as is the case here.

When I open up a checking account, all I need is my license and my SSN and $1000. They don't need the transaction history from every other checking account I have because they are not assuming any liability or risk. Such is the case with the average Robinhood customer, ergo, they should not steal the customer's transaction history from their bank. This should honestly be prosecuted.

I don't mean to be rude, but I think you have to be either high, really dumb, or a robinhood stakeholder to think that people would want this or that it would be a good idea. I would suggest moving to China if you think it's a good idea - I'm sure you will be able to get great discounts on a lot of things if your transaction history is conducive to the greater good in the near future.