Visa’s planned $5.3 billion acquisition of data aggregator Plaid could be a game changer in the policy battle between banks and fintechs over access to consumers’ financial account data.
Plaid, one of a handful of companies that connect bank and other financial account data to fintech apps like Mint or Robinhood, has been at the forefront of an increasingly public battle with banks over data access, leaving many fintechs and consumers caught in the middle.
While consumers authorize the use of their bank and other account data for fintech apps, industry disputes have emerged over which types of data should ...