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JPMorgan Tells Fintechs They Have to Pay Up For Customer Data

JPMorgan Chase & Co. has told financial-technology companies that it will start charging fees amounting to hundreds of millions of dollars for access to their customers’ bank account information – a move that threatens to upend the industry’s business models.The largest US bank has sent pricing sheets to data aggregators — which connect banks and fintechs — outlining the new charges, according to people familiar with the matter. The fees vary depending on how companies use the information, with ...

Read more at bloomberg.com

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