The American Fintech Council has urged the Consumer Financial Protection Bureau (CFPB) to prohibit fees for accessing open banking data after the CFPB decided to rescind its open banking rule. The fintech sector is concerned that such fees threaten consumer rights and innovation, as exemplified by recent tensions between fintech firms and traditional banks over data access costs. The AFC's stance aligns with broader criticism of the rule's repeal, which some see as favoring large financial institutions.