JPMorgan Chase and Plaid have renewed their data access agreement, resolving a dispute that arose when the bank started charging fintechs for access to customer data, per PYMNTS. The new deal includes a pricing structure but reportedly won't result in new fees for Plaid customers. It’s noteworthy that JPMorgan and Plaid reached an agreement while the Consumer Financial Protection Bureau (CFPB) is still collecting public comments on a new iteration of its open banking rule. The agreement may influence the rule’s final outcome and encourage other financial institutions who are considering similar moves.

Open banking and its uncertain future in the US dominated discussions across FinovateFall’s 2025 agenda. Financial institutions (FIs) that already offer open banking capabilities—and those finding new ways to use open banking—will have a competitive advantage over those waiting for more clarity. It’s important to remember who owns the data in question—the customers. And the ultimate question FIs should be asking themselves is: How can they leverage that data to provide the best experience possible for their customers? While it’s unlikely that next steps will include fee-less transfer of this data, FIs must consider how their next steps into open banking can set them apart from the competition. For now, the most obvious step is letting customers manage which parties can access their data.

The news: After a five-year hiatus, JPMorgan Chase will once again offer HELOC loans, per Banking Dive. Why this matters: HELOCs tend to be a more flexible type of loan and often don’t have minimum loan requirements, per Mortgage Note. In a period when many customers are in need of fast, flexible cash, HELOC loans can help banks deliver. Not all banks that offered HELOCs pre-pandemic have relaunched them. But they should consider it: Banking customers are likely to continue feeling uncertainty about the economy and their financial futures in the medium term, and financial institutions that offer easier cash access to homeowners will reap more profits and customer satisfaction.

The news: Stripe asked the Consumer Financial Protection Bureau (CFPB) to preserve fee-free open banking as the agency revises Rule 1033. Our take: For now, Section 1033 will remain in place. But as rulemaking proceeds, Stripe’s appeal to the CFPB may fall on deaf ears. The new rule will likely be a defanged version of its predecessor. We expect more firms will pursue Coinbase’s route—carving out individual deals with JPMorgan—or close up shop like Visa.

The news: Empower rebranded the Petal portfolio into Tilt, a trio of cards aimed at credit builders. WebBank will remain the issuer for the cards. Our take: Alternative lenders like Tilt do help individuals start or rebuild their history of creditworthiness. However, Tilt may come into a profitability—or even operational—problem after JPMorgan Chase said it would revoke fintechs’ free access to consumer financial information.

The news: President Donald Trump is expected to sign an executive order against alleged “debanking,” claiming that JPMorgan Chase and Bank of America discriminated against him by rejecting his company's deposits, per The New York Times. The fallout: Some FIs may alter their risk management practices to avoid a personal vendetta. But by mandating that banks cannot debank certain groups for fear of being accused of political bias, the order essentially limits their ability to manage risk. This could expose FIs to clients with legitimate compliance or reputational concerns. It also forces FIs to choose between political and financial blowback and carries a long-term risk of losing young, socially conscious customers. Gen Zers particularly care about banks’ actions when it comes to what they deem as moral issues, like the environment or DEI. Diverting from prior commitments young consumers supported could risk their loyalty.

The news: JPMorgan Chase and Coinbase partnered to offer Chase's customers new ways to access crypto. This fall, customers will be able to link Coinbase directly to their bank accounts, buy crypto with Chase credit cards, and convert rewards points to USDC, per a press release. Why this matters: This partnership is a big step toward bridging the gap between traditional finance and crypto. By letting customers use their credit cards to buy crypto or redeem their Chase Ultimate Rewards points for USDC, the companies could accelerate crypto adoption. It’s also another salvo from JPMorgan against data aggregators and open banking firms after the bank announced that it would charge these companies to access customer data—particularly around payments. JPMorgan is integrating directly with Coinbase rather than using APIs from a company like Plaid.

The news: JPMorgan is reportedly considering offering loans directly backed by clients' Bitcoin and other crypto assets, per Bitcoin Magazine. This would be a first for the big bank, moving beyond accepting only Bitcoin exchange-traded funds as collateral. Our take: As regulations around crypto continue to ease, more financial institutions (FIs) will explore incorporating digital currencies into their offerings. While crypto may not be the best path for all FIs, JPMorgan's move to consider Bitcoin-backed lending signifies a critical inflection point in traditional finance. Banks have seen crypto firms encroach on their territory as they seek banking charters. But an expansion of crypto offerings by traditional banks would allow them to strike back with more-comprehensive lending products their competitors may not yet be able to offer.

The news: We recently covered JPMorgan’s decision to charge fintechs for access to customer data. Fintechs aren’t taking this lightly and don’t appear to be accepting of their fate. Our take: The current situation sets the stage for a battle of the lobbies. With the CFPB unlikely to reinstate stronger open banking regulations for now, fintechs may pivot to launching public education campaigns about how they believe this affects banking customers. This could be a strategic move to rally consumer support and advocate for their perspective on data access and financial choice in the interim. Meanwhile, more banks are likely to follow in JPMorgan’s footsteps—and PNC has already announced it’s considering a similar move, per Bank Automation News.

The news: President Donald Trump signed the Guiding and Establishing National Innovation for US Stablecoins Act, known by its shorthand as the GENIUS Act, during a White House ceremony on Friday. Our take: The GENIUS Act ushers in the clarity and legitimacy sought after by crypto players and traditional FIs alike.

The news: Most big banks reported better-than-expected profits for Q2 2025, per Reuters. Our take: These strong Q2 earnings show that big banks are capitalizing on opportunities—but they’re not letting their guard down. We’ll see that continue as banks tap new revenue streams given a relaxation of financial regulations, like JPMorgan charging fintechs for customer data. With risks like more tariffs, deficits, and geopolitical tensions looming, banks will likely stay disciplined on costs and risk exposure. To stay ahead, banks should double down on tech-driven efficiency and monetization strategies that can scale regardless of market headwinds.

The news: JPMorgan Chase, Wells Fargo, and Citigroup posted strong Q2 2025 earnings—and warnings about Trump’s mercurial economic policies. Our take: While revenues, credit card volumes and delinquency rates reflect positively about the health of the American consumer, their lived experience remains fraught.

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