The European Union, backed by Germany, is indeed advancing plans to bar major US tech giants—Meta, Apple, Google (Alphabet), and Amazon—from participating in a forthcoming financial data-sharing framework known as the Financial Data Access (FiDA) regulation. This initiative aims to foster innovation in digital financial products for consumers and small businesses by mandating that financial institutions share customer data (with consent) to enable services like personalized financial advice, lending apps, or investment tools. The exclusion targets Big Tech to prevent them from dominating the sector or leveraging their vast data ecosystems unfairly, amid broader EU antitrust concerns. Amendments to FiDA, proposed by the European Commission, focus on limiting access to individuals and SMEs while explicitly blocking large corporations, with implementation eyed for 2025 or later. This move aligns with the EU’s ongoing efforts to regulate tech platforms, such as through the Digital Markets Act (DMA), though FiDA is specifically tailored to finance.