JPMorgan Chase, Fintechs Agree on Data Payments - The MortgagePoint

JPMorgan Chase, Fintechs Agree on Data Payments - The MortgagePoint

The agreement ends a long-standing dispute over third-party data access, with JPMorgan securing payments while fintechs seek regulatory certainty.

JPMorgan on Data Access Agreements: “The Free Market Worked”

In July, JPMorgan Chase (JPMC) began notifying fintech data aggregators that it intended to begin charging significant fees for access to its customers’ bank account information. The shift triggered concern among aggregators about their business models, stirred interest among other banks eyeing similar moves, and raised red flags with regulators concerned about the broader economic fallout. Now, nearly five months later, the bank and its fintech…