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The policy classifies a category of cookies as strictly necessary for website operation and states that users cannot opt out of this cookie category, though users may be able to block them at the browser level with potential impact on site functionality.
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
This provision defines a non-negotiable cookie category tied to core site functionality, which is a standard industry practice. The practical significance depends on what specific data strictly necessary cookies collect and whether any data from this category flows to third parties, which is not addressed in this document text.
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 →Under this clause, the agreement establishes that strictly necessary cookies are always active and cannot be disabled through SoFi's consent controls, though the policy acknowledges that browser-level blocking is possible with potential effects on site functionality. The agreement does not enumerate in this text the specific data collected by strictly necessary cookies or whether any such data is shared with third parties.
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"You cannot opt-out of Strictly Necessary Cookies as they are deployed in order to ensure the proper functioning of our website (such as prompting the cookie banner and remembering your settings, to log into your account, to redirect you when you log out, etc.).Excerpt from SoFi's Privacy Notice
1) REGULATORY LANDSCAPE: The strictly necessary cookies classification engages standard practice under EU ePrivacy Directive and GDPR consent exemptions for technically required cookies, though this document appears scoped to U.S. users. Under U.S. frameworks including CCPA, strictly necessary cookies used solely for website functionality generally do not implicate opt-out requirements. The FTC's general consumer protection authority applies to any deceptive characterization of cookie categories. 2) GOVERNANCE EXPOSURE: Low. The strictly necessary cookie exemption from opt-out is a standard and widely recognized practice across the industry. Governance exposure is limited to ensuring that the classification of cookies as strictly necessary is accurate and not used to shield optional data collection from consent requirements. 3) JURISDICTION FLAGS: EU/EEA users are not directly addressed by this document, but if SoFi serves EU users, the ePrivacy Directive and GDPR impose specific requirements on strictly necessary cookie classifications. For U.S. users, no state privacy law currently requires opt-in consent for technically necessary cookies. 4) CONTRACT AND VENDOR IMPLICATIONS: If strictly necessary cookies involve any third-party service providers, those relationships should be reviewed to confirm data flows are limited to the functional purposes described and do not constitute selling or sharing under applicable privacy laws. 5) COMPLIANCE CONSIDERATIONS: Compliance teams should audit the specific cookies classified as strictly necessary to confirm they are limited to functional purposes as described and do not collect data beyond what is required for the stated operational functions. Any third-party involvement in strictly necessary cookie processing should be documented and assessed against applicable data sharing restrictions.
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This provision defines a non-negotiable cookie category tied to core site functionality, which is a standard industry practice. The practical significance depends on what specific data strictly necessary cookies collect and whether any data from this category flows to third parties, which is not addressed in this document text.
Under this clause, the agreement establishes that strictly necessary cookies are always active and cannot be disabled through SoFi's consent controls, though the policy acknowledges that browser-level blocking is possible with potential effects on site functionality. The agreement does not enumerate in this text the specific data collected by strictly necessary cookies or whether any such data is shared with …
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