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JPMorgan Chase faces backlash after revealing plans to charge fintech firms for customer data access. The move, criticized by crypto leaders like Tyler Winklevoss, highlights tensions between traditional banks and digital finance innovators.
- JPMorgan processed 1.89 billion fintech data requests in June, with 87% not customer-initiated.
- Tyler Winklevoss alleges JPMorgan's fees target crypto firms, calling it a political move against Trump's crypto policies.
- Dimon justifies fees, citing API costs and advocating for controlled, time-limited data sharing.
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