A forthcoming federal rule on open banking could allow banks to charge fees for consumer data access. Open banking enables consumers to authorize sharing their financial data with third parties. The Biden administration previously issued a rule prohibiting banks from charging such fees. Banks sued, arguing the rule forced costly data-sharing infrastructure without cost recovery. JPMorgan Chase has already proposed fees for data aggregators. The Trump administration is working on a rewrite that may permit volume-based data access fees for banks. Critics argue these fees will ultimately be passed on to consumers. Experts suggest banks already possess incentives and infrastructure for data management. Some warn that fees could stifle fintech innovation, impacting services beyond financial management. This potential fee structure also conflicts with President Trump's stated goals of promoting financial innovation. The rewrite is currently under White House review before further public comment and finalization.