Aftershocks with Fintech lawyer Jesse Silverman: Open Banking in the Crosshairs with JP Morgan’s data announcement
In an unprecedented move, JPMorgan Chase announced plans to charge fintech companies for accessing consumer data, igniting significant debate within the fintech community. This decision follows the Consumer Financial Protection Bureau's announcement to rescind Rule 1033, which previously mandated free data access under consumer consent. The decision has profound implications for open banking and the fintech sector, with potential alterations in partnerships and strategies. Industry players face uncertainty as they navigate technical, legal, and ethical challenges, balancing infrastructure costs with consumer rights and business interests. The outcome is uncertain, with ongoing litigation possibly influencing the landscape.
Bloomberg Story referenced:
Jesse’s Contact: https://www.linkedin.com/in/jessebsilverman/
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Paradigm Shock
The world is undergoing a radical transformation. Welcome to Paradigm Shock, the interdisciplinary podcast that provides critical analysis of the major forces at play, from the revolutionary impact of Artificial Intelligence and modern Fintech to the historic changes underway in the financial architecture of the global dollar system and its future. In our exploration of the shifting economy and investing landscape, the impact of digital currencies such as stablecoins and Bitcoin, and the ever-changing currents of culture and society, we grapple with the details and nuance to separate hype from reality. Join us as we navigate these critical times, offering insightful analysis and varied perspectives on the profound changes shaping our future.
- No. of episodes: 12
- Latest episode: 2025-07-28
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