Stripe has filed an opposition to JPMorgan fees as the CFPB attempts to overhaul its rule governing the sharing of personal financial data.

Representing the first financial-technology firm to directly and publicly appeal to the US Consumer Financial Protection Bureau (CFPB), Stripe is calling for immediate action against banks that charge for access to their clients’ financial information.

The process, which allows JPMorgan Chase to charge fees while the CFPB considers whether such charges are permissible, could cause significant damage to both businesses and consumers, according to officials from Stripe.

Details of Stripe’s Opposition

The move by Stripe comes as the CFPB is reviewing its existing rule. While acknowledging that comments are being submitted at an early stage, the CFPB has noted that allowing banks to charge fees during this period could result in harm to many businesses and consumers before a final ruling is made.

Stripe has proposed several options for the CFPB, including the possibility of bringing enforcement actions against banks that attempt to charge fees. The CFPB would also report any anti-competitive behavior it discovers to the Federal Trade Commission or the Justice Department.

The Background

The conflict began in July 2025 when JPMorgan Chase announced plans to start charging significant fees for accessing customer data, affecting institutions and data aggregators that act as intermediaries between banks and fintech companies. According to reports, JPMorgan had already sent pricing sheets to these intermediaries, with charges potentially varying based on use.

A spokesperson from JPMorgan Chase highlighted the financial institution’s investment in developing a secure system to protect consumer data and emphasized ongoing productive conversations aimed at ensuring that all parties make necessary investments to maintain customer safety.