The policy hub page states that SoFi collects, discloses, and uses personal information received about users across its financial products and services, with detailed policies governing specific product lines including banking, lending, investing, and insurance.
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
As a financial services entity offering banking, lending, and investment products, the scope of data collection authorized across these product lines engages both GLBA nonpublic personal information requirements and CCPA personal information categories, creating distinct obligations for each data type and product context.
Interpretive note: The full scope of data categories collected and all sharing purposes are disclosed in product-specific policy documents linked from this hub page; the hub page itself does not reproduce the complete data inventory, limiting the specificity of this analysis.
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 →The agreement establishes that SoFi collects and uses personal information across banking, lending, investing, credit, and insurance products, with disclosure and use practices described across product-specific policy documents linked from this hub. The breadth of data categories collected across interconnected financial products means that a single SoFi relationship may involve multiple overlapping data collection and sharing frameworks.
How other platforms handle this
to request that your data be transferred to a third party (data portability)
Your organization may allow you to access and export your data in order to back it up or transfer it to a service outside of Google.
To stop us collecting your location information, you can update your device settings, stop using the Service, or uninstall our mobile apps.
"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
1) REGULATORY LANDSCAPE: The collection of nonpublic personal financial information by a federally chartered bank subsidiary engages GLBA and its implementing Regulation P, enforced by the OCC and CFPB.
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.
Get the research letter
Companies change their terms quietly. We read every version and catch what actually changed. One email a week on the changes that matter and what they mean.
As a financial services entity offering banking, lending, and investment products, the scope of data collection authorized across these product lines engages both GLBA nonpublic personal information requirements and CCPA personal information categories, creating distinct obligations for each data type and product context.
The agreement establishes that SoFi collects and uses personal information across banking, lending, investing, credit, and insurance products, with disclosure and use practices described across product-specific policy documents linked from this hub. The breadth of data categories collected across interconnected financial products means that a single SoFi relationship may involve multiple overlapping data collection and sharing frameworks.
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.