JPMorgan says fintech middlemen like Plaid are ‘massively taxing' its systems with unnecessary pings
1. JPMorgan plans to charge fintech middlemen new fees for data access. 2. 1.89 billion data requests in June; only 13% initiated by customers. 3. Bank's infrastructure costs are increasing due to rising API call volumes. 4. JPMorgan faces accusations of anti-competitive behavior amid fee negotiations. 5. Fraud claims from aggregators expected to triple within five years.