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Story perspectives

Open Banking: Consumer Choice at Risk from Hidden Fees

2/13/2026

45 11 Full Breakdown

Summary

Story summary

Open banking could expand consumer choice and lower costs for U.S. customers.
Trent England, of Save Our States, argues that big banks are seeking to impose hidden fees that would undermine those benefits.
The result could be reduced competition and higher prices for consumers.
England advocates a pro-consumer open banking rule that ensures individuals control their financial data without hidden fees, promoting fairness and competition.

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Story summary

Open banking could expand consumer choice and lower costs for U.S. customers.
Trent England, of Save Our States, argues that big banks are seeking to impose hidden fees that would undermine those benefits.
The result could be reduced competition and higher prices for consumers.
England advocates a pro-consumer open banking rule that ensures individuals control their financial data without hidden fees, promoting fairness and competition.