Consumer Action is writing to let you know about two new fact sheets that explain how to control and protect your financial information when using apps that aggregate bank and other financial services accounts and allow payments. We know that "FinTech" apps—such as Mint, PayPal, CashApp, Venmo, Robinhood, and many, many more—help users manage their personal finances and monitor their accounts. But consumers need to be better informed about the access they are giving apps and how to control what personal information is shared.
Our concise fact sheets provide tips for using FinTech apps safely and securely.
What you need to know about how FinTech apps work
Financial technology applications—or “apps”—can offer attractive benefits for consumers who want to take their personal finances digital. But, like all internet-based tools and services, FinTech apps need to be chosen and used with care. This publication explains the types of FinTech tools available, how they work, and what that means for your data privacy and security. (Our companion guide, Privacy and security when using fintech apps, offers actionable tips for managing and protecting your data.) Click here to read.
Privacy and security when using FinTech apps
This fact sheet gives FinTech users the knowledge to make wise decisions when choosing and using FinTech apps, take effective steps to keep their financial account data safe, and understand their options if something goes wrong. (Our companion guide, What you need to know about how FinTech apps work, offers an overview of financial technology and what privacy and security considerations users should be aware of before choosing and using digital financial tools.) Click here to read.
We hope you enjoy these free publications. They are available to read online or download in PDF format. You can reply to this email with any feedback.
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Consumer Action has been a champion of underrepresented consumers nationwide since 1971. A non-profit 501(c)(3) organization, Consumer Action focuses on consumer education that empowers low- and moderate-income and limited-English-speaking consumers to financially prosper. It also advocates for consumers in the media and before lawmakers to advance consumer rights and promote industry-wide change. On the web at www.consumer-action.org.
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