JPMorgan Chase has announced it will begin charging fintech companies hundreds of millions of dollars in fees for access to their customers' bank account data, including transaction histories, balances, and behavioral signals. This marks a significant shift in data-sharing policies within the financial industry, as such data has traditionally been accessed by fintech firms and data aggregators like Plaid and MX at no cost. The pricing sheets sent to these aggregators indicate higher fees for payments-focused firms, affecting companies such as PayPal, Square, Affirm, Chime, Block, and others. JPMorgan CEO Jamie Dimon stated that fintech companies should be responsible for these costs. This move follows the Consumer Financial Protection Bureau's decision to kill the Open Banking Rule, which had granted consumers ownership of their financial data. The fees are expected to take effect later this year and have raised concerns across the fintech and cryptocurrency industries, with executives warning that the charges could cripple innovation and potentially bankrupt smaller firms. PNC Financial is also considering similar fees for fintech data access, citing high costs related to data security and readability. Industry stakeholders argue that banks are using these fees to control who can build financial products and at what cost, while critics accuse banks of attempting to restrict free access to customer data that fintechs rely on to operate.