Twitter CEO Jack Dorsey testified at a remote video hearing held on March 25, 2021 by the U.S. House Energy and Commerce Committee Subcommittee on “The Role of Social Media in Promoting Extremism and Misinformation” in Washington.
Handouts | Via Reuters
Block jumped over 5% on Monday, leading the fintech company’s stock rally as analysts downplayed the threat jpmorgan chase’s We have reported plans to request data aggregators to access customer financial information.
Bloomberg followed a sharp decline on Friday after Bloomberg reported that JPMorgan had distributed pricing sheets that outline the potential pricing for aggregators like Plaid and Yodlee that connect the fintech platform to users’ bank data.
In a note to clients on Monday, an analyst at Evercore ISI said the potential new costs are “far from an increase in costs that “break the business model.”
In addition to rising blocks, PayPal It rose 3.5% on Monday after slides on Friday. Robin Hood and Shift 4 We recorded modest profits.
The broader market momentum helped to drive some of the rebounds. The Nasdaq was closed on records, and the code rose, Bitcoin Climb over $123,000. etherSolana and other altcoins have also been won.
Analysts at Evercore ISI said, even if JPMorgan changes were implemented, the most immediate effect would be a minor clash in the cost of a one-time account setup (probably 50-60 cents).
Morgan Stanley The view writes that the impact is “negligible”, especially for large fintechs where bank accounts rely more on debit, credit or stored balances than they pull for transactions.
According to people with knowledge of the issue, PayPal doesn’t expect much of a short-term impact. Those who asked not to name it to talk about private financial issues noted that PayPal relies primarily on aggregators for account verification and already has long-term pricing agreements.
Small fintechs that rely heavily on automated clearinghouse (ACH) rails or open banking frameworks can face real pressure if fees are enabled, but analysts said the larger platforms are largely insulated.
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