They are getting sued by TD Bank for this very reason:
> The bank said in the court filings that the interface "dupes" consumers into believing they are entering personal information into TD Bank's trusted platform.
> "In reality, however, consumers are unwittingly giving their login credentials to the defendant, who takes the information, stores it on its servers, and uses it to mine consumers' bank records for valuable data (e.g., transaction histories, loans, etc.), which the defendant monetizes by selling to third parties," TD claimed in the court records.
https://www.ctvnews.ca/business/td-bank-files-lawsuit-agains...
Also, giving your credentials to any third party, including Plaid, voids the warranty at many financial institutions. If your account gets hacked and your money stolen, you may find out that the zero liability policy no longer applies to you.
> The bank said in the court filings that the interface "dupes" consumers into believing they are entering personal information into TD Bank's trusted platform.
> "In reality, however, consumers are unwittingly giving their login credentials to the defendant, who takes the information, stores it on its servers, and uses it to mine consumers' bank records for valuable data (e.g., transaction histories, loans, etc.), which the defendant monetizes by selling to third parties," TD claimed in the court records.
https://www.ctvnews.ca/business/td-bank-files-lawsuit-agains...
Also, giving your credentials to any third party, including Plaid, voids the warranty at many financial institutions. If your account gets hacked and your money stolen, you may find out that the zero liability policy no longer applies to you.