Proponents argue it enables customers to access a wider pool of financial services and fosters greater competition. But the banking industry, which immediately sued to block the measure, said the arrangements could stoke fraud and expose them to greater liability. JPMorgan Chief Executive Officer Jamie Dimon has publicly flagged the risks. Under Donald Trump, a much-stripped back CFPB has asked a federal judge to vacate the open-banking rule, leaving its future in question. JPMorgan’s proposed fees in some cases would eclipse the revenue certain companies generate on a single transaction by as much as 1000%, one of the people said.

https://www.bloomberg.com/news/articles/2025-07-11/jpmorgan-tells-fintechs-they-have-to-pay-up-for-customer-data?srnd=homepage-americas&sref=EcccZSTc