Online banks and some credit unions are responding to Fed rate hikes by aggressively raising deposit rates on CDs, savings accounts and money market products, while the nation's biggest banks are largely standing pat — for now.
U.S. banks are sitting on a $1.03 trillion mountain of credit-card loans. More borrowers are starting to default. Yet lenders know they can't sell souring debt to just any collector.
As with most of the company's inventions, an Amazon checking account would more deeply embed customers into an Amazon ecosystem that provides an endless flow of data and efficiencies.
News that Amazon is courting banks to help it offer its own branded checking account raises major questions about which banks could be helped or hurt, who would control the relationship and how Amazon's partner(s) would make money.
Amazon.com Inc. is in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about offering the tech giant’s customers a product similar to a checking account.
Santander's Ana Botin is plotting to make the global banking giant even bigger. Senators suspect a Wall Street cover-up of sexual harassment, and Capital One gets sued by the NAACP.
Two civil rights groups in Texas allege that Capital One's TV ads featuring black celebrities encourage minority customers to deposit money and use debit cards, while its branch closings in their neighborhoods cut them off from loans and other services.
