So why not force the opening of the walled garden in law then? The EU has PSD2 now which forces all banks to have open APIs. We have multiple Plaid-like competitors providing the platform on top of those APIs. But it wouldn't have happened without regulation.

Generally innovating through regulation is bad and I don't support it. But I think the aversion to it in the US is what creates these monopolies in the first place and in this specific use case, I think it's a faster way to solve the problem.

This is an example of what becomes possible (no card details and low fees):

https://techcrunch.com/2019/01/29/truelayers-payments-api-le...