News Brief
Summary
JPMorgan Chase has finalized agreements with major fintech data intermediaries, including Plaid and Yodlee, ensuring it will be paid for the vast majority of data requests made by third-party apps accessing customer accounts. This marks a significant shift in the long-standing dispute over data access costs between banks and the fintech industry.
Key Points
- Deals Secured: JPMorgan has signed updated contracts with fintech middlemen (Plaid, Yodlee, Morningstar, Akoya) responsible for over 95% of data requests from its systems.
- Negotiated Terms: After weeks of talks, the bank agreed to lower its initial proposed pricing, while the middlemen won concessions on how data requests are serviced.
- Regulatory Context: This follows legal challenges to the CFPB’s “open-banking rule,” which initially required free data sharing. The rule’s future is now uncertain under review.
- Industry Impact: JPMorgan’s move is expected to set a precedent, with other major banks likely to follow suit and start charging for data access.
- Controversy: Fintech advocates criticize the deals as “anti-competitive, rent-seeking behavior” that could raise costs for consumers and stifle innovation, while JPMorgan calls it the “free market” working.
新闻简报
总结
摩根大通已与包括 Plaid 和 Yodlee 在内的主要金融科技数据中介机构敲定了协议，确保其能从访问客户账户的第三方应用程序所产生的大部分数据请求中获得报酬。这标志着银行与金融科技行业之间关于数据访问成本的长期争议出现了重大转变。
关键点
- 达成协议：摩根大通已与对其系统提出超过95%数据请求的金融科技中介机构（Plaid、Yodlee、Morningstar、Akoya）签署了更新后的合同。
- 协商条款：经过数周谈判，银行同意降低其最初提出的定价，而中介机构则在数据请求的服务方式上赢得了让步。
- 监管背景：此举是在对消费者金融保护局（CFPB）”开放银行规则”提出法律挑战之后发生的，该规则最初要求免费共享数据。该规则目前正在修订中，前途未卜。
- 行业影响：摩根大通的举措预计将开创先例，其他主要银行很可能效仿，开始对数据访问收费。
- 争议：金融科技倡导者批评这些协议是”反竞争、寻租行为”，可能会增加消费者成本并抑制创新，而摩根大通则称此为”自由市场”在发挥作用。
Original Article Link: https://www.cnbc.com/2025/11/14/jpmorgan-chase-fintech-fees.html