The Many Ways Amazon and Others Could Storm the Gates of Finance
- Watchdog signals banks may see more Silicon Valley competition
- ‘The lines are already blurring,’ says an industry consultant
How Jeff Bezos Became the King of E-Commerce
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As Amazon.com Inc. plows into one industry after another, a question keeps arising: What about banking?
Speculation that big American technology companies will try to disrupt the financial world reached new heights this week after a top U.S. regulator said rules separating banks from commerce should be reexamined. Consumers deserve more choice if financial services can be delivered better by non-traditional players, according to Keith Noreika, temporary head of the agency that oversees national banks.