If Plaid causes you harm, the maximum amount you can recover from Plaid is either what you paid Plaid in the last 12 months or $100, whichever is higher, and you cannot recover for financial losses, lost data, or other consequential damages.
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 establishes the scope of financial exposure for Plaid in liability scenarios and defines which categories of damages fall outside the company's obligation to compensate. This mechanism structures the risk allocation between Plaid and users within the contractual framework.
Interpretive note: Enforceability of the $100 damages cap may vary by jurisdiction; certain state consumer protection statutes provide statutory damages or minimum recovery floors that may override contractual limitations.
If Plaid's handling of your financial data causes you harm such as unauthorized account access, data exposure, or financial loss, these terms cap Plaid's financial responsibility at $100 or your prior 12-month payments, and exclude recovery for consequential damages like lost profits or data losses.
How other platforms handle this
In no event will either party's aggregate liability arising out of or related to this Agreement exceed the total fees paid or payable by Customer in the twelve (12) months preceding the claim. In no event will either party be liable for any indirect, incidental, special, consequential, or punitive d...
IN NO EVENT WILL DEEPSEEK OR ITS AFFILIATES BE LIABLE UNDER ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT, NEGLIGENCE, PRODUCTS LIABILITY, OR OTHERWISE, FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES OR LOST PROFITS, EVEN IF DEEPSEEK OR ITS AFFILIATES HAVE ...
TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL PERPLEXITY, ITS AFFILIATES, LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS O...
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"TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL PLAID, ITS AFFILIATES, LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO YOUR USE OF, OR INABILITY TO USE, THE SERVICES. IN NO EVENT WILL PLAID'S TOTAL LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE USE OF THE SERVICES EXCEED THE GREATER OF (A) THE AMOUNTS YOU HAVE PAID TO PLAID IN THE TWELVE (12) MONTHS PRIOR TO THE ACTION GIVING RISE TO THE LIABILITY OR (B) ONE HUNDRED DOLLARS ($100).— Excerpt from Plaid's Plaid Terms of Use
(1) REGULATORY LANDSCAPE: Limitation of liability clauses in consumer contracts engage state consumer protection laws and unconscionability doctrines, which may restrict the enforceability of damage caps in certain contexts. Where financial harm results from a GLBA violation, CFPB enforcement actions, or state privacy law violations, statutory damages frameworks may provide remedies that operate independently of contractual liability caps. The FTC Act and state UDAP statutes also provide regulatory enforcement mechanisms that are not displaced by contractual limitations. (2) GOVERNANCE EXPOSURE: Medium. A $100 damages cap is standard in many technology and financial platform terms, but its enforceability against consumers who suffer data breaches or unauthorized financial account access may face challenge under state consumer protection statutes, particularly in California, New York, and Illinois. Courts in some jurisdictions have found such caps unconscionable where they effectively insulate defendants from liability for foreseeable harms in high-risk data contexts. (3) JURISDICTION FLAGS: California's consumer protection framework (CLRA, UCL) and data breach notification and liability statutes may provide remedies that operate outside the scope of contractual limitations. Illinois and New York have robust consumer protection laws that could interact with this cap. EU and UK GDPR do not permit contractual limitation of data subject rights or remedies under the regulation itself. (4) CONTRACT AND VENDOR IMPLICATIONS: Downstream developers who integrate Plaid should note that Plaid's liability to them as a business customer may be governed by separate developer terms with different liability frameworks. The $100 consumer cap does not necessarily reflect the liability allocation in Plaid's B2B agreements with financial institutions or application developers. (5) COMPLIANCE CONSIDERATIONS: Legal teams should evaluate whether the $100 cap is disclosed conspicuously enough to satisfy mutual assent requirements under applicable state law, particularly for high-risk data processing scenarios. Incident response planning should account for the fact that contractual liability limitations do not preclude regulatory enforcement, class action litigation (where arbitration waivers are found unenforceable), or reputational harm.
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The clause establishes the scope of financial exposure for Plaid in liability scenarios and defines which categories of damages fall outside the company's obligation to compensate. This mechanism structures the risk allocation between Plaid and users within the contractual framework.
If Plaid's handling of your financial data causes you harm such as unauthorized account access, data exposure, or financial loss, these terms cap Plaid's financial responsibility at $100 or your prior 12-month payments, and exclude recovery for consequential damages like lost profits or data losses.
ConductAtlas has identified this type of provision across 228 platforms. See the full comparison.
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