Open banking fees fuel debate

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Large banks, data aggregators and fintechs are wrestling over the costs of customer data sharing for a system of open banking as the issue plays out in federal court and with financial regulators. Aggregators’ large data draws are “a huge tax” on JPMorgan Chase’s infrastructure, said Kate Prochaska, a managing director at the largest U.S. bank said T ...