Visa-owned startup company Plaid has been served with a class action lawsuit alleging that the company violated privacy and data regulations by collecting and monetizing its users transaction, according to case documents.

Visa acquired Plaid in January for $5.3 billion and the company currently has millions of users. The suit alleges that Plaid scraped users' data from companies like Venmo, Cash App, and Robinhood and held on to track every transaction made.

By Emily Mason