The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers, several fintech CEOs tell Forbes. Two months ago, Chase sent messages to fintech data aggregators like Plaid, whose software connects fintech apps to consumers’ bank accounts. The bank said it would be introducing new fees for the aggregators to access consumers’ bank data, though it had never charged for access before. Those fees are set to take effect very soon, since Chase told aggregators they’d start charging them in 60 days. Chase spokesperson Drew Pusateri says the bank is still in active negotiations with aggregators. But after two months of back and forth, no agreements have been announced.
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