JPMorgan to charge fintechs for customer data access, Bloomberg reports

JPMorgan (JPM) will start charging fees to financial-technology companies for access to their customers’ bank account information, Bloomberg’s Evan Weinberger and Paige Smith report. According to people familiar with the matter, the fees, which vary depending on how companies use the information, could be passed from data aggregators to fintechs and ultimately consumers, and are expected to take effect later this year. Publicly traded fintechs include Chime (CHYM), Affirm (AFRM), Block (XYZ), and PayPal (PYPL).