JPMorgan Chase is preparing to charge fintech middlemen, including Plaid, fees for access to its systems after finding that the companies are flooding its servers with unnecessary data requests. The bank claims that these requests are “massively taxing” its systems and only 13% of them were initiated by customers. JPMorgan’s move could lead to upheaval in the fintech ecosystem, which has relied on free API access for years. The proposed fee schedules could result in some middlemen paying millions of dollars annually.
Source: https://www.cnbc.com/2025/07/28/jpmorgan-fintech-middlemen-plaid-data-requests-taxing-systems.html