Consumer Advances Info-Broker Suit Against Mastercard’s Finicity

Mastercard Inc.-owned Finicity Corp. must face a proposed class action alleging it deceptively collected the financial data of users of smartphone personal-finance applications and sold the data without their knowledge or consent, a federal court ruled.

Kaitlyn Lawrence alleged that Finicity purported to be a provider of a linking service between financial apps and banks, but in reality acted as an aggregator and seller of financial information that it collected after gaining access to the bank-account login credentials of app users.

Lawrence’s allegations that she suffered an injury-in-fact were sufficient for Article III standing on her claims of unjust ...