SoFi collects a range of personal information including financial account data, transaction history, device identifiers, browsing activity, and location-related data when you use its products and services.
This analysis describes what SoFi'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 breadth of data collection spans both sensitive financial information regulated under GLBA and behavioral and device data used for advertising purposes, which carries distinct consumer rights and opt-out mechanisms depending on the data type and applicable law.
Interpretive note: The full scope of data categories collected is described in the policy text not fully reproduced in the provided HTML; the summary reflects what is disclosed in the accessible portions of the document.
The updated Privacy Notice explicitly discloses that SoFi collects user information through cookies, pixels, and other tracking technologies and shares this data with social media, advertising, and analytics partners. Previously, the policy described these practices in more general language. Under the revised terms, continued use of SoFi's website constitutes acceptance of these tracking and data-sharing practices unless the user actively makes selections in the Privacy Preference Center. You can use the preference center to opt out of optional tracking technologies, though strictly necessary cookies cannot be disabled.
View change record →The updated privacy notice explicitly discloses that SoFi uses pixels and tracking technologies to collect information about your actions and preferences, and shares this data with social media, advertising, and analytics partners. The revised consent interface distinguishes between strictly necessary cookies (which cannot be disabled) and optional cookies for performance and targeting purposes (which require affirmative consent). The terms state that if you do not make a selection, you agree to use of these technologies; you can opt out by toggling the button that appears to the right of each optional cookie category.
View change record →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.
View change record →Removal of this provision eliminates the introductory statement about data collection scope, though similar language appears in the renamed 'Financial and Behavioral Data Collection Scope' provision.
View full change record →Explicitly names the scope of data collection to include financial and behavioral information, enhancing transparency about the types of personal data handled.
View full change record →Customers using SoFi's banking, lending, or investing products may have their financial account data, transaction history, device identifiers, and browsing activity collected and used across multiple purposes including marketing and analytics.
How other platforms handle this
If you choose to reveal any personal information about yourself to other users, you do so at your own risk. We strongly encourage you to use caution in disclosing any personal information online.
You can contact us in order to (1) update or correct your personally identifiable information, (2) change your preferences with respect to communications and other information you receive from us, or (3) delete the personally identifiable information maintained about you...
Access information about you consistent with legal requirements. In addition, you may have the right in some cases to receive or have your electronic information transferred to another party.
"SoFi is a new kind of finance company taking a member centric approach to financial services. We take the privacy of our customers seriously, and the policies outlined below describe how we use and secure their personal information. For additional detail please review these policies to learn about how we collect, disclose, and use information we collect or receive about you.Excerpt from SoFi's Privacy Notice
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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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The breadth of data collection spans both sensitive financial information regulated under GLBA and behavioral and device data used for advertising purposes, which carries distinct consumer rights and opt-out mechanisms depending on the data type and applicable law.
Customers using SoFi's banking, lending, or investing products may have their financial account data, transaction history, device identifiers, and browsing activity collected and used across multiple purposes including marketing and analytics.
ConductAtlas has identified this type of provision across 290 platforms. See the full comparison.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by SoFi.