⚖️ REGULATORY ARBITRAGE: While EU’s PSD2 mandates free data access, US banks exploit regulatory uncertainty. But consumers generate this data through their transactions—banks store it, they don’t own it. Just charge for storage right?

⚖️ REGULATORY ARBITRAGE: While EU’s PSD2 mandates free data access, US banks exploit regulatory uncertainty. But consumers generate this data through their transactions—banks store it, they don’t own it. Just charge for storage right?

— Abhay 🇸🇬🇮🇳 (@Abhay08)
Aug 2, 2025

⚖️ REGULATORY ARBITRAGE: While EU’s PSD2 mandates free data access, US banks exploit regulatory uncertainty. But consumers generate this data through their transactions—banks store it, they don’t own it. Just charge for storage right?

🏦 DEFENSIVE STRATEGY: JPM sees billion-dollar businesses like Plaid, Cleo ($280M ARR), and CreditKarma ($7.1B acquisition) built on “their” data. Classic innovator’s dilemma—they’re trying to tax innovation instead of embracing it.

🔮 WHAT’S NEXT: Other major banks will likely follow JPM’s lead, potentially killing consumer-friendly fintech innovation. Meanwhile, stablecoins continue eating payments infrastructure from the bottom up. The question isn’t if, but when traditional rails become obsolete.