JPMorgan to Begin Charging FinTechs for Access to Bank Data

Article In Discussion

Published by PYMNTS on July 13, 2025 – read the full article here

According to Bloomberg, JPMorgan has told FinTechs and data aggregators that it plans to start charging fees for access to customer bank data. The charges could vary depending on how the data is used, with payment apps likely to see the highest rates. These fees are expected to take effect later this year, though the final terms are still being discussed.

Key Takeaways

• JPMorgan could generate hundreds of millions with this change.

• Data aggregators like MX, Plaid, and Finicity are expected to be charged.

• These costs could flow downstream to FinTechs, such as Informative Research, and possibly consumers.

• This comes as the future of CFPB’s open banking rule, Section 1033, hangs in the balance.

Our Take

This news could shake things up for anyone using consumer-permissioned bank data — especially lenders that rely on these connections to verify income or assets. At IR, we’re already in conversations with our partners to understand the downstream effects.
If 1033 moves forward as originally finalized, it could level the field again. But for now, we're watching this one closely.