Plaid to pay for JPMorgan data

Group 1 - JPMorgan Chase and Plaid have announced a new agreement that includes a pricing structure and commitments to ensure safe and consistent consumer data access in the future [3][7] - The agreement extends a deal that has been in place since 2018 and will not affect current customer agreements or pricing for data gathered and resold by Plaid [5] - The new fees for accessing consumer data, which JPMorgan Chase previously provided at no cost, have raised concerns among fintech groups, with some labeling the fees as "extortionate" [4][7] Group 2 - The fintech industry is facing regulatory uncertainty, particularly since federal regulators enacted a rule in October 2024 that has implications for open banking [7] - Trade groups representing fintechs have criticized the new agreement, claiming that large data providers are exploiting regulatory uncertainty to impose unlawful fees on consumers and competition [7][6]