Observers speculate that Intuit simply wants to enhance revenue and protect its tax software business, but the CEOs of each company say the deal would also give consumers more control of their overall finances.
Intuit is reportedly buying Credit Karma for $7 billion. The move is seen as a way for Intuit to get access to more consumer behavior data, generate new sources of income and potentially protect a key business.
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.
The Wall Street giant will inherit some $56 billion of low-cost deposits that will allow it to offer more traditional banking products to its wealth management clients.
