I'm not really sure how charging for API access would break your ability to out-maneuver Mint. Technology moves faster than regulation so today regulation comes after power of technology. All a framework does is abstract way complexity, which makes the banks that fall under it subject to a more-pure market and its effects. Banks with premium services can compete on price while working on the same customer data easier. Access to extended data can be bidded on by banks for those willing to give up personal information for better services. I don't comprehend why the banks would need to "open up" anything, or even agree to standardize their API. The framework can be a sanity check on banks as well. (we deposited $100, only $95 is reported, flag., handle flag by docking bank "determinism ranking"), banks that don't rate highly as handling the framework calls in a deterministic manner are not officially supported and lose mainstream customers. Consumers can regain control of their personal information, bringing a new market for personal data that isn't owned by someone other than that person.
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I'm not really sure how charging for API access would break your ability to out-maneuver Mint. Technology moves faster than regulation so today regulation comes after power of technology. All a framework does is abstract way complexity, which makes the banks that fall under it subject to a more-pure market and its effects. Banks with premium services can compete on price while working on the same customer data easier. Access to extended data can be bidded on by banks for those willing to give up personal information for better services. I don't comprehend why the banks would need to "open up" anything, or even agree to standardize their API. The framework can be a sanity check on banks as well. (we deposited $100, only $95 is reported, flag., handle flag by docking bank "determinism ranking"), banks that don't rate highly as handling the framework calls in a deterministic manner are not officially supported and lose mainstream customers. Consumers can regain control of their personal information, bringing a new market for personal data that isn't owned by someone other than that person.