Crypto Execs Ask Trump to Kill Bank Data Fees
A group of crypto and fintech executives has urged US President Donald Trump to block banks from charging fees for access to their customer data, arguing it stifles consumer choice.
The letter sent to Trump on Wednesday accused large banks of looking to “preserve their market position by imposing exorbitant new ‘account access’ fees that would prevent consumers from connecting their accounts to better financial products of their choice.”
Crypto exchange Gemini, trading platform Robinhood, along with crypto lobby groups the Crypto Council for Innovation and the Blockchain Association, backed the letter, which claimed the fees would cripple the US crypto, artificial intelligence and digital payments industries.
