Marketplace All-in-One Financial data clashes and what it means for Zelle, Venmo, and more
Dec 22, 2025
Steve Bombs, founder of Alon Advocacy, and Julia Coronado, president of Macro Policy Perspectives, dive into the turbulent waters of financial data sharing. They discuss how a Consumer Financial Protection Bureau rule could reshape access to bank data for apps like Venmo and Zelle. With political shifts looming, Bombs highlights banks' concerns over data access, while Coronado links surging gold prices to geopolitical risks and dollar instability. The conversation paints a compelling picture of the future of finance and consumer choice.
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Consumer Control Over Financial Data At Risk
- The CFPB rule aimed to give consumers control to share bank data with apps like Venmo and PayPal.
- If reversed, these apps could become unavailable or much more expensive for consumers, says Steve Bombs.
Widespread Reliance On Financial Apps
- About 80% of Americans use at least one financial app for payments or money management.
- Those apps speed payments, help small businesses take payments, and improve money management efficiency.
Political Shift Drove Rule Reconsideration
- The second Trump administration reconsidered a Biden-era CFPB rule and moved to amend it after review.
- Steve Bombs suggests part of that reversal was instinctive opposition to Biden-era actions regardless of content.