Yes, I CAN imagine that
"Chase offering a discount to connect their location history into the bank, saving their customers some money and providing a better mechanism for anti-fraud."
There are two sides to the coin though, aren't there? First of all there's nothing to say that connecting location history into the bank will save money or help prevent fraud. That depends entirely on the development and implementation of suitable applications and business protocols to use the data. In fact the entire comment is too general to mean anything but still conveys the lovely picture he wants us to see in our mind. This is classic Google ideology - "go on, drink up, if it looks like it'll taste good, it'll be good for you".
The flip side of this coin is where the fraud uses or abuses the history and the defrauded customer is powerless. The bank will have offloaded a lot of process onto the customer base, of which a minority will bear the brunt as they encounter fraud and have to deal with the banks and their well marketed systems. I've no objection to progress and innovation but people like Lee bear a responsibility and should be scrutinised and challenged when they make these kind of statements.