CFPB Reopens Open-Banking Rules as Stripe Opposes JPMorgan Chase Data Fees

Overview

• The CFPB issued an Advance Notice of Proposed Rulemaking on August 22 to reopen Section 1033, with comments due October 21 and plans to extend compliance dates that were set to start in mid-2026 after a court put the prior rule on hold.
• Stripe urged the CFPB to prevent JPMorgan Chase from charging data aggregators during the rewrite, warning in a comment letter that such fees would raise costs for startups and consumers.
• JPMorgan Chase has argued proposed fees would cover the expense of secure data-sharing technology, and the bank did not respond to a request for comment in the reporting.
• The CFPB is seeking input on who can act as a consumer’s authorized representative, whether to allow data-access fees and under what limits, what security and privacy safeguards are required, and how to set transition timelines away from screen scraping.
• Recent commentary encourages the bureau to maintain a no-fee model, keep strict limits on downstream data use and retention, and accelerate the shift from scraping to standardized APIs.