Plaid retains your financial data for defined periods and outlines under what circumstances it will delete data, including when you disconnect an app or submit a deletion request.
This analysis describes what Plaid'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
The clause defines the operational framework for data retention by anchoring the duration of storage to functional necessity and regulatory compliance rather than indefinite retention. This establishes a periodic review mechanism as the procedural basis for determining ongoing data necessity.
Developers who use Plaid's services now face expanded accountability for all activities on their accounts and stricter rules around who can access end-user financial data. If developers allow employees, contractors, or other agents to access their accounts, they must ensure those users only access data for approved business purposes and in compliance with Plaid's terms; Plaid reserves the right to monitor this activity through session replay and activity monitoring. Developers should audit which team members have account access, document the business need and approved use case for each, and ensure all authorized users understand their obligations under Plaid's terms.
View change record →Plaid's updated terms shift its business model from primarily connecting your accounts to third-party apps toward also providing direct consumer services, including account monitoring and alerts through a new web-based platform called Plaid Web-App. The terms now specify that your Plaid Account can store your financial and identity information, and that Plaid can use this data to provide its own streamlined services (like alerts and notifications) in addition to facilitating third-party app connections. This is not a privacy reduction, but a clarification that Plaid is now a service provider in its own right, not just an intermediary. You may want to review what the Plaid Web-App monitoring service entails and what data it collects, since it is a new direct service from Plaid rather than a third-party app feature.
View change record →Plaid has reframed its service model to emphasize a direct relationship between you and Plaid, rather than positioning itself primarily as a bridge to third-party apps. This means Plaid now states it provides services directly to you when you request them. Additionally, Plaid has introduced a new account monitoring and alerts service available via a web application directly to consumers, separate from third-party app integrations. The terms clarify that your Plaid Account remains non-transactional and does not store funds or enable direct payments, but now explicitly mentions it helps third-party apps initiate payments to or from you. You may wish to review the new web-based monitoring service offering and understand what account data it accesses and how it uses that data.
View change record →Consumers who disconnect apps or request data deletion should be aware that Plaid may retain financial data beyond the point of disconnection for legitimate business or legal purposes. The retention period and scope of what data is retained materially affects consumer privacy.
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Affirm will retain your information in accordance with our Privacy Policy and any applicable state or federal law, rule or regulation.
We collect and keep personal data only as needed or allowed for the purposes set out in this Statement, based on the reason we collected the personal data in the first instance and what is permitted under the laws that apply to the processing.
Mistral AI shall retain the Customer Exportable Data and Assets for a period of thirty (30) days from the earlier between (a) the expiration of the Transitional Period or (b) Customer's notification under Section 2.2.2 (b) of these Additional Terms.
"We retain your data only as long as it is needed. To determine whether the data is needed, we consider the reason your data was collected and used and any legal requirements to hold onto your data. We review your data periodically to ensure it is still needed to fulfill the purpose for which it was collected or any other legal requirements.Excerpt from Plaid's Terms of Use (Legal Index)
Data retention policies must align with GLBA recordkeeping requirements, CCPA deletion obligations, and applicable state financial data laws.
Enforcement risk, jurisdiction flags, contract triggers, and due diligence action items.
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The clause defines the operational framework for data retention by anchoring the duration of storage to functional necessity and regulatory compliance rather than indefinite retention. This establishes a periodic review mechanism as the procedural basis for determining ongoing data necessity.
Consumers who disconnect apps or request data deletion should be aware that Plaid may retain financial data beyond the point of disconnection for legitimate business or legal purposes. The retention period and scope of what data is retained materially affects consumer privacy.
ConductAtlas has identified this type of provision across 275 platforms. See the full comparison.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Plaid.