Oh, yes, I would absolutely never use Plaid, or any service that requires it in the meantime. But, there are many services that should exist, that could be saf

Oh, yes, I would absolutely never use Plaid, or any service that requires it in the meantime. But, there are many services that should exist, that could be safely used, if such an API mandate existed. I actually think it’s a matter of time. Eventually the current state of affairs will lead to a crisis. Someone operating like Plaid (a centralized nexus of banking passwords) will be breached, funds will be drained, and banks will shrug. At that point, the API law becomes much more likely. Banking regulations have a way of moving very slowly until a crisis erupts. Another path is, once most of the bigger banks develop their own APIs, they will probably push for the regulation as a path to making it harder for smaller banks to compete.