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Protect Free Access to Banking Data for Consumers and Startups

Related Article: Crypto Leaders Urge President Trump to Block Bank Data Fees - coinfomania.com - Friday, August 15, 2025, 6:45:40 AM Eastern Daylight Time

Target: President Donald Trump and federal banking regulators

Goal: Urge President Donald Trump and federal regulators to uphold free access to banking data for authorized fintech and crypto apps, ensuring fair competition, consumer empowerment, and continued innovation.

Access to banking data is a fundamental right for consumers and a necessity for innovation in the financial sector. Recent proposals to allow banks to charge fees for access to customer data threaten fair competition, consumer choice, and the future of digital finance.

Millions of Americans rely on financial apps to budget, invest, and manage their money. These tools depend on secure, free access to banking data. If banks are allowed to charge for this access, the costs will be passed on to consumers, making essential services more expensive or less functional. This would stifle innovation, hurt small startups, and give big banks an unfair advantage.

Personal financial data belongs to individuals, not banks. Charging for access undermines consumer rights and restricts competition, reducing choices for everyday people. Open banking rules currently protect free data sharing with authorized apps, fueling a vibrant ecosystem of financial tools and services.

We call on President Trump and federal regulators to protect free access to banking data. The future of digital finance, consumer empowerment, and fair competition depends on it.

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