Overview

• FiDA would extend Open Banking by requiring banks and insurers to share customer data with third parties when users consent.
• A German document urged excluding Apple, Amazon, Google and Meta to foster an EU digital‑finance ecosystem and protect consumer digital sovereignty.
• EU diplomats and recent reports say the exclusion plan has gathered traction as negotiations enter their final stage this autumn.
• Banks and EU bodies warn Big Tech could exploit sensitive data and entrench dominance, while CCIA Europe and the Chamber of Progress argue the ban would curb innovation and consumer choice.
• President Trump has threatened tariffs over policies he says discriminate against U.S. tech companies, heightening the risk of transatlantic friction as a decision nears.