Plaid

The Hebrew Free Loan Society, Inc. (HFLS) uses Plaid to confirm your bank account information and review your recent bank account transactions to ensure you appear able to repay an HFLS loan (the “Checks”).

The purpose of these Checks is to prevent fraud (identity theft, document forgery) that would otherwise be difficult to detect and could cause HFLS to unknowingly provide loans to individuals who have no intention of repaying the loans. These Checks also protect the public by preventing bad actors from using bank account information that they have stolen from others to fraudulently take a loan from HFLS under another person’s identity.

To authorize HFLS to view your checking account information through Plaid, you will be asked to select your bank and enter your online banking login information. 

HFLS will NOT see your online banking login information (user name or password), nor will we have direct access to your checking account. All we will see is recent transaction information, the account holder information (name(s) and contact information on file with the bank), and the account number and routing number (necessary so HFLS can set up direct deposit of your loan funds into your checking account and set up automatic electronic withdrawal of monthly payments).

HFLS cannot accept checking account information through email or any means other than authorization through Plaid. If you choose not to complete this authorization, HFLS will be unable to consider your loan request.

Your personal data is encrypted and safeguarded when it is transferred to HFLS from Plaid. Plaid is required to follow all applicable US laws regarding the security, retention, and use of your data. 

Please click here to view HFLS’s Privacy Policy, which includes general information about how we use and protect your data.

Please click here to view Plaid’s Privacy Policy, and here to view their End Users Service Agreement (HFLS applicants).