01:48 PM EDT, 07/30/2025 (MT Newswires) -- The Consumer Financial Protection Bureau is planning to reconsider its open banking rule, which gives customers the right to demand, download and transfer their financial data for free, Bloomberg reported Wednesday, citing a court filing submitted by the bureau.

The filing on Tuesday came after JPMorgan Chase ( JPM ) and PNC Financial Services ( PNC ) said they are planning to begin charging tech firms for access to customer financial data, according to the report.

"Data middlemen endlessly access our customers' data for free - 90% of the time without a customer request - and then charge third parties for that same data," a JPMorgan ( JPM ) spokesperson reportedly told Bloomberg.

JPMorgan ( JPM ) and PNC did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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