BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Crypto and Fintech Leaders Challenge Bank Data Fees in Letter to Trump
Crypto and Fintech Leaders Challenge Bank Data Fees in Letter to Trump
14
2
BTCCSquare news:
CEOs from more than 80 cryptocurrency and fintech companies have called on former President Donald Trump to halt excessive data access fees imposed by banks. These fees, they argue, restrict consumers from linking to preferred financial products. The Financial Technology Association (FTA) spearheaded the effort, labeling the charges as illegal and detrimental to U.S. innovation in financial services.
The letter asserts that nearly 90% of Americans believe they should control their financial data—a principle undermined by the banks' practices. Executives warned that large financial institutions are obstructing economic freedom, echoing concerns that such fees could destabilize market dynamics by September.
By:
