Washington, D.C. – July 2025 – Phil Goldfeder, CEO of the American Fintech Council (AFC), has issued a strong statement condemning emerging efforts to restrict or monetize consumer-permissioned access to financial data. He emphasized that consumers have an unequivocal right to access and control their own financial information, underscoring that any obstruction poses a serious risk to financial innovation, market competition, and financial inclusivity.
Goldfeder criticized attempts to erect what he described as “tollbooths” on data access, calling such moves detrimental to families relying on transparency and control in managing their financial health. He asserted that open banking can only thrive when major financial institutions prioritize interoperability and consumer empowerment over protectionist tactics.
He concluded by urging the industry to uphold consumer rights and foster a more open, fair, and secure financial ecosystem.
