The odd case of Envestnet/Yodlee getting singled out as data scofflaw, just four days after Visa deal to buy rival Plaid and nine months after Raj Udeshi's 'Theranos' outcry

Three Capitol Hill Democrats urged the Federal Trade Commission to probe the small firm -- and nobody else -- with little explanation of where its practices allegedly diverge from the norm

Author Keith Girard January 27, 2020 at 7:29 PM

3 Comments

Sen. Ron Wyden: 'The consumer data that Envestnet collects and sells is highly sensitive.'

Technology

Envestnet

Yodlee

Jeff Spears

January 28, 2020 — 11:05 AM

Seems like we have fought this battle with banks and MyCFO before. Not sure who won but I feel the consumer didn’t. My experience with regulators is the are focused on the issue but don’t have any definitive guidelines.

Bill Winterberg

January 28, 2020 — 2:22 PM

In 2016, Intuit was the number one contributor to FTC letter co-author Anna Eshoo's campaign, with $35,225 (plus $8,100 in 2020 and $8,200 in 2018). Would this potentially influence any calls for investigations against companies that could be viewed as Intuit competitors, such as Envestnet Yodlee? In addition, Eshoo announced in January 2019 that Asad Ramzanali, a former Intuit executive, would serve as her new senior technology policy advisor. Why was Intuit excluded from the stated concerns over consumer financial data privacy disclosures in the letter to the FTC? <a href="https://twitter.com/BillWinterberg/status/1218243689157361664?s=20">https://twitter.com/BillWinterberg/status/1218243689157361664?s=20</a>

Pete Giza

January 28, 2020 — 3:29 PM

This is especially ridiculous considering the breaches and subsequent loss of privacy, identity and material losses that one can only speculate associated with credit agencies like Experian et. al.

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Envestnet Inc
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Top Executive: Jud Bergman