Time to go beast mode. Internet personality Jimmy “MrBeast” Donaldson and Beast Industries announced this week their acquisition of Step, a banking and investing fintech platform designed for teens and young adults. The deal highlights how today’s young people are saving and investing earlier than previous generations, but significant financial literacy gaps remain. Many don’t know where to start, and that’s creating an opportunity for financial advisors to extend their value toward the next generation. ...

Core Viewpoint - JPMorganChase and Plaid have renewed their partnership to enhance secure data sharing for financial services, including a new pricing structure for data access [1][2]. Group 1: Partnership Details - The renewed partnership allows JPMorganChase customers to link their bank accounts to various external financial services, such as budgeting tools and investment platforms [2]. - The new agreement will not affect Plaid's existing agreements or pricing structures with other customers [2]. - Both companies will invest in technology to improve access to financial data [1]. Group 2: Regulatory Context - The US Consumer Financial Protection Bureau (CFPB) is revisiting regulations on consumer data sharing, which previously prohibited fees like those in the JPMorganChase and Plaid agreement [4]. - The CFPB is currently seeking public input to guide its decision-making process regarding open banking rules [4]. - Legal challenges and criticism from stakeholders in the fintech sector have prompted the CFPB to reconsider its stance on the open banking rule [4]. Group 3: Industry Reactions - The Financial Technology Association, which includes Plaid, is defending the principle of free data access in court [5]. - JPMorganChase has raised concerns about companies accessing its customer data without compensation [5]. - JPMorganChase's consumer payments head emphasized the importance of the partnership for the open banking ecosystem [5].