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


Jeff Spears

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

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

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.

Related Moves

March 20, 2024 at 1:25 AM

Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team

The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.

February 24, 2024 at 3:33 AM

Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain

The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.

January 9, 2024 at 4:09 AM

Bill Crager makes critical hire of 'step back from the numbers,' Joshua Warren, replacing 'brother' Pete D'Arrigo at CFO; Warren had a big role at BlackRock -- Envestnet's biggest stakeholder

The Envestnet CEO gets 'very, very impressive' 43 year-old BlackRock exec; the New York asset manager happens to be Envestnet's largest stakeholder.

September 27, 2023 at 2:48 AM

See more related moves

Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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