Marketplace Morning Report Financial data clashes and what it means for Zelle, Venmo, and more
Dec 22, 2025
Steve Bombs, founder of Alon Advocacy, discusses crucial changes in financial data sharing that impact apps like Venmo and Zelle. He outlines the implications of a Consumer Financial Protection Bureau rule still in limbo, expressing how banks oppose free data sharing. Julia Coronado provides insights into why gold prices are soaring amid geopolitical tensions and messy economic data. She also tackles inflation, explaining how timing issues have led to an understated economic picture. Together, they unravel the complexities of consumer data control and market fluctuations.
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Consumer Control Over Financial Data
- The CFPB rule would let consumers control and freely share their bank data with apps like Venmo and Zelle.
- Reversing it could reduce competition and give banks more control over payment services.
Prepare For App Changes And Fees
- Expect that losing the rule could make third-party apps more expensive or unusable for consumers.
- Monitor policy changes and consider alternatives if your preferred app faces new limits or fees.
Apps Rely On Bank Data Access
- About 80% of Americans use at least one financial app for payments and money management.
- Those apps depend on access to bank data to deliver fast, low-cost services.