“Consumers have a right to their own financial data, full stop. Any effort to restrict or monetize access to consumer-permissioned financial information is a direct threat to responsible innovation, healthy competition, and the progress we’ve made toward a more inclusive financial system.

"At a time when consumers are demanding more flexibility, transparency, and control over their financial lives, placing a tollbooth on data access will harm the very families a safe financial system is meant to serve. This is a shameless attempt to further entrench the position of incumbents. Open banking only works when the largest institutions embrace, not obstruct, the transparency and interoperability that drive responsible innovation. Financial institutions should be empowering consumers—not creating new barriers to access.”

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