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Fintech and Crypto Assets industry executives urge Trump to ban banks from charging data access fees.
[Financial technology and crypto assets industry executives urge Trump to ban banks from charging data access fees] Executives in the financial technology and crypto assets industry have urged the Trump administration to prohibit U.S. banks from charging fees for access to customer data, a charge that touches the core of the banking business model. Numerous companies, investors, and lobbying groups, including Klarna Group Plc, Robinhood Markets Inc., and the crypto assets exchange CEX, have signed a letter to President Donald Trump stating that the proposed fees would "undermine" innovation and "could lead to the complete failure of small businesses and financial tools."