Amazon checking-account threat puts regional banks on defensive

AMAZON.COM INC., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. / BLOOMBERG FILE PHOTO/JIM YOUNG
AMAZON.COM INC., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. / BLOOMBERG FILE PHOTO/JIM YOUNG
NEW YORK - America’s regional banks are preparing to defend their turf. Amazon.com Inc., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. The tech giant’s ambitions could prove especially challenging for regional lenders, which rely more heavily than larger Wall Street firms…

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