The policy states that Acorns collects financial account numbers, investment account data, transaction history, government-issued identification numbers including Social Security numbers, and standard contact identifiers from users who engage with its services.
This analysis describes what Acorns's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes the scope of sensitive financial and identity data Acorns collects as a condition of platform use, encompassing data categories that are subject to heightened regulatory obligations under GLBA and that carry elevated risk in the event of unauthorized access or disclosure.
The updated policy removes explicit language describing how data flows when users sign in via Apple or Google, including what information those services share with Acorns and how it is used. Previously, the policy stated that Acorns receives information such as name and email address through third-party sign-in services solely to manage accounts and provide services. The revised language also shifts the AI chatbot from an optional feature users 'may access' to a stated service Acorns 'uses' to direct users to internal articles. Users no longer have a published explanation of third-party sign-in data practices in the privacy notice, though the terms suggest data shared through third-party services remains subject to those providers' terms.
View change record →Severity increased from medium to high, and collection scope narrowed to exclude investment preferences, employment data, and address/date of birth, while adding transaction history detail.
View full change record →The agreement authorizes collection of bank account numbers, investment account data, transaction history, Social Security numbers, and contact information from users. Under these terms, this sensitive financial and identity data is held by Acorns and subject to the sharing and retention practices described elsewhere in the policy.
How other platforms handle this
You and your organization's administrator can access several types of Service Data directly from Google Cloud, including your account information, billing contact information, payment and transaction information, as well as product and communication settings and configurations.
to request that your data be transferred to a third party (data portability)
To stop us collecting your location information, you can update your device settings, stop using the Service, or uninstall our mobile apps.
"We collect information you provide to us when you use our Services, including: financial account information (such as bank account numbers, investment account information, and transaction history); government-issued identification numbers (such as Social Security numbers); and contact information (such as name, email address, phone number, and mailing address).Excerpt from Acorns's Privacy Policy
1) REGULATORY LANDSCAPE: Collection of nonpublic personal financial information including account numbers, transaction history, and Social Security numbers is governed by the Gramm-Leach-Bliley Act, enforced by the FTC for non-bank financial institutions, and by applicable …
Enforcement risk, jurisdiction flags, contract triggers, and due diligence action items.
Ad personalization controls removed. Contact scanning added. Advertiser data partnerships quietly dropped. A timeline of every change.
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This provision establishes the scope of sensitive financial and identity data Acorns collects as a condition of platform use, encompassing data categories that are subject to heightened regulatory obligations under GLBA and that carry elevated risk in the event of unauthorized access or disclosure.
The agreement authorizes collection of bank account numbers, investment account data, transaction history, Social Security numbers, and contact information from users. Under these terms, this sensitive financial and identity data is held by Acorns and subject to the sharing and retention practices described elsewhere in the policy.
ConductAtlas has identified this type of provision across 290 platforms. See the full comparison.
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