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Plaid, a financial technology company, settled a class action lawsuit and has agreed to pay $58 million to all consumers with a linked bank account to any of its approximately 5,000 client apps between Jan.

Objecting to the settlement means telling Judge Gleeson and the proponents of the settlement why you oppose it. Even if you opt out to preserve your right to seek past damages, you will still be bound by the release and the various purported rules changes (offered in lieu of swipe fee changes).

How do I object to a settlement? Your objection needs to be filed with the court overseeing the case by a set deadline. This involves sending in a written objection letter to the court, and sometimes to the attorneys on both sides.

A $58 million settlement was reached. Plaid allows consumers to link their bank accounts to financial services apps. The company is an important but unknown middle man between the banks, who hold consumers' cash, and the dozens of platforms who vie to be the platform of choice to send that cash.

Plaid, a financial technology company, settled a class action lawsuit and has agreed to pay $58 million to all consumers with a linked bank account to any of its approximately 5,000 client apps between Jan. 1, 2013 and Nov. 19, 2021.

What does the Settlement provide? Bank of America has agreed to establish a Settlement Fund of $27.5 million from which Settlement Class Members will receive payments or Account credits.

The named claimants will get $5,000 each. Any money left over will be donated to two nonprofits.