Stripe Among First Fintechs to File Opposition to JPMorgan Fees

Stripe Among First Fintechs to File Opposition to JPMorgan Fees

Stripe Inc. is among the first financial-technology firms to directly and publicly appeal to the US Consumer Financial Protection Bureau to take immediate action against banks charging for access to their customers’ financial data.

JP Morgan’s API charges spark debate over banks’ data revenue

JP Morgan's new fees for fintech API access spark debate, highlighting differences in US and European banking data revenue models under PSD2 rules.

Stripe Pushes Back on JPMorgan’s New Data Fees

Stripe said in comments submitted to the Consumer Financial Protection Bureau (CFPB) that while the regulator finalizes its revisions to the open banking rule, Rule 1033, it should ensure that banks do not “unlawfully charge access fees” for connecting consumers’ bank accounts to the financial products of their choice. Bloomberg flagged Stripe’s comments Tuesday (Sept. 2), reporting that the firm was one of the first FinTech companies …

Stripe among first fintechs to file opposition to JPMorgan fees

Stripe is among the first financial-technology firms to directly and publicly appeal to the US Consumer Financial Protection Bureau (CFPB) to take immediate action against banks charging for access to their customers’ financial data.