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SoFi's updated Privacy Notice contains two substantive policy changes. First, the company expanded the scope of tracking technologies it uses and discloses; previously the policy described cookies and their use in general terms, but the updated language explicitly states the company uses 'pixels and other tracking technologies' and shares collected information with 'social media, advertising, and analytics partners.' Second, the company modified its consent structure: previously users could 'choose not to allow some types of cookies,' but the updated terms state 'If you do not make a selection, you agree to our use of these technologies,' establishing opt-out rather than opt-in consent for tracking technologies.
The updated terms establish a more permissive consent model for tracking technologies. Previously, the policy stated that users could 'choose not to allow some types of cookies' (opt-in structure). The revised language now states 'If you do not make a selection, you agree to our use of these technologies' (opt-out structure). This means that continued use of the website without affirmative rejection constitutes acceptance of cookies, pixels, and data sharing with advertising and analytics partners. The updated terms also explicitly disclose that SoFi shares collected information with 'social media, advertising, and analytics partners,' providing more specificity about data sharing destinations. You can decline the Privacy Preference Center or decline all optional tracking technologies through the updated preference settings.
The updated terms establish a material change in how SoFi collects consent for tracking technologies. The shift from opt-in to opt-out consent means users must now affirmatively decline tracking rather than affirmatively accept it. The explicit disclosure of data sharing with advertising partners provides clarity about downstream data destinations, but the opt-out consent structure may create compliance risk under CCPA/CPRA, which generally requires affirmative opt-in consent for nonessential tracking.
→ Access the Privacy Preference Center on SoFi's website and affirmatively decline cookies, pixels, and optional tracking technologies if you do not wish your data to be collected and shared with advertising partners
→ Review the updated Privacy Notice to understand which tracking technologies SoFi uses and which advertising and analytics partners receive your data
→ SoFi will collect your browsing activity, interaction data, and device information using cookies and tracking pixels
→ The collected information will be shared with social media, advertising, and analytics partners for marketing and profiling purposes
→ This tracking and data sharing will continue by default unless you affirmatively decline through the Privacy Preference Center
This is the 3rd significant Consent Expansion change SoFi has made since ConductAtlas began monitoring.
ConductAtlas has recorded 7 material changes to this document over 38 days of monitoring (since April 2026). An additional minor or cosmetic changes were excluded.
Across all monitored documents, SoFi has made 13 significant changes.
10 of SoFi's significant changes have been classified as negative for consumers.
Shifted from opt-in (users can choose to refuse cookies) to opt-out (inaction equals consent to cookies, pixels, and data sharing with advertising partners)
Updated terms explicitly state that SoFi shares collected information with social media, advertising, and analytics partners
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
You must now actively decline tracking technologies; if you do nothing, SoFi will collect and share your data with advertising partners.
The updated terms now clearly state that SoFi shares your data with advertising and analytics companies.
Previously you had explicit choice language; now the default is tracking unless you actively refuse.
SoFi's Privacy Notice was updated on May 30, 2026 to shift consent mechanisms from opt-in to opt-out for cookies, pixels, and third-party data sharing. The updated language explicitly discloses data sharing with advertising and analytics partners and establishes that failure to affirmatively decline tracking technologies constitutes consent. This change may implicate CCPA/CPRA requirements for California residents (which generally require affirmative opt-in for non-essential cookies) and FTC guidance on unfair or deceptive practices if the opt-out mechanism is not clear, prominent, or easily accessible. Compliance teams should evaluate whether the updated consent mechanism meets state-specific consent requirements and whether the updated disclosures align with GDPR obligations if any EU users are present.
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Analyst $49/moConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-002476.
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