Over 80 crypto and fintech executives have urged former President Donald Trump to prevent banks from charging fees for access to customer data, asserting that these fees hinder consumer choice and innovation. The letter, sent to Trump, accuses large banks of attempting to maintain their market dominance by imposing high data access fees that would restrict consumers from linking accounts to superior financial products. Notable supporters include the crypto exchange Gemini and trading platform Robinhood. The executives emphasized that such fees could cripple the U.S. crypto, AI, and digital payments sectors, jeopardizing the nation's ability to lead in digital asset development. Previously, a ruling by the Consumer Financial Protection Bureau, which allowed customers to share bank data with fintechs for free, was praised by the crypto community but faced opposition from the banking sector. The letter concluded with a call for the administration to prevent banks from creating barriers to financial freedom, while the American Bankers Association criticized the request, suggesting it seeks to enforce government price fixing.

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