JPMorgan Chase has announced it will begin charging fintech companies fees amounting to hundreds of millions of dollars for access to their customers' bank account data, including transaction histories, balances, and behavioral signals. Pricing details were shared with data aggregators such as Plaid, with higher fees targeted at payments-focused firms. This policy shift follows the Consumer Financial Protection Bureau's (CFPB) decision to terminate its Open Banking Rule, which had granted customers the right to own and share their financial data freely. JPMorgan CEO Jamie Dimon stated that fintech companies should bear responsibility for paying for this data. The move is expected to impact fintech firms like PayPal, Square, Affirm, Chime, and Block, potentially leading to changes in consumer fees and business models within the financial technology sector. Following JPMorgan's lead, other banks including PNC Financial are considering similar charges, citing the high costs of data security and readability. Shares of some fintech companies rose after the announcement, with analysts suggesting any adverse impacts may be limited. This development marks a pivotal moment in financial infrastructure, as it challenges the previously open access to customer data by fintech firms and may reshape competitive dynamics in the industry.