JPMorgan Plans to Charge Fees to Fintechs to Get Customer Bank Account Data | JPMorgan CEO Jamie Dimon defended the bank's decision to charge fintech companies for accessing customer data, citing the need for customer protection and proper system management, while clarifying that the responsibility for scams should lie with third parties. However, the American Fintech Council criticized the move, arguing that it would hinder innovation and negatively impact consumers by restricting access to their financial data. Read more
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Heron Makes Big Splash in Small Business Finance Industry | Heron, a startup specializing in AI-driven workflow automation, has raised $16 million in a Series A funding round to expand its market presence and enhance its teams, with a focus on streamlining document-heavy processes for small business lenders. By automating intake and reducing the need for manual review, Heron aims to bolster efficiencies in small business lending, which the company believes is crucial for economic growth. Read more
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